KYBORA acted as the exclusive advisor to Xbrane Biopharma (Nasdaq Stockholm: XBRANE) on its strategic agreement with Alvotech for the divestment of its Cimzia® biosimilar candidate (XB003) and its R&D operations.
The transaction, valued at approximately EUR 24 million, includes an upfront cash payment of approximately EUR 8.9 million, the assumption of approximately EUR 15.1 million in debt and payables, and the transfer of Alvotech equity shares worth around EUR 13.3 million. It also includes Xbrane’s R&D facility in Solna, Sweden, near the Karolinska Institute, along with ~40 R&D employees and associated lab infrastructure, positioning Alvotech with a stronger foothold in the Swedish life sciences ecosystem.
Xbrane will retain its promising pipeline of preclinical and clinical biosimilar assets, including Ximluci® (a Lucentis® biosimilar) and Xdivane (a biosimilar candidate referencing Opdivo®), with a sharpened focus on commercialization.
This marks KYBORA’s fourth successful biosimilar transaction in recent years.
Notably, in November 2024, we also advised Xbrane on its global licensing and co-development deal with Intas Pharmaceuticals for its nivolumab biosimilar candidate (Xdivane), further supporting global access to high-quality biologics.
We are grateful for the continued trust placed in our team and remain committed to delivering expert strategic and transactional support to innovative life science companies worldwide.
The full press release is available here.
