KYBORA, a leading global advisory firm specializing in biopharma transactions, served as the exclusive
advisor to Xbrane Biopharma AB (Nasdaq Stockholm: XBRANE; “Xbrane”) in securing a landmark
global licensing and co-development agreement with Intas Pharmaceuticals Ltd (“Intas”). This agreement
centers on the development and commercialization of Xbrane’s nivolumab biosimilar candidate,
referencing Opdivo®.

Under the agreement, Intas, through its subsidiary Accord Healthcare, will oversee the global
commercialization of the nivolumab biosimilar. Accord Healthcare is a prominent player in the biosimilar
market, known for its deep oncology expertise and a strong track record of success in both European
and global markets. Intas will also fund and manage the clinical and regulatory development of the
biosimilar candidate. As part of the deal, Xbrane will receive an upfront payment of EUR 10 million from
Intas, along with milestone payments of EUR 3 million tied to development progress. Following the
product’s launch, Xbrane will be entitled to double-digit royalties on profits.

KYBORA played a pivotal role in facilitating this strategic partnership, leveraging its industry expertise
and global network to ensure the transaction’s successful closure. This agreement positions Xbrane to
capitalize on the upcoming patent expiration of Opdivo® in the U.S. in December 2028 and Europe in
June 2030.

This agreement marks a major step toward increasing access to high-quality, affordable biologic
treatments. By supporting the development of this vital drug, KYBORA is proud to contribute to
expanding global access to innovative therapies, improving patient outcomes, and advancing healthcare
affordability worldwide.

Martin Åmark, Chief Executive Officer of Xbrane, commented: “This partnership with Intas marks a
significant milestone for Xbrane as we work to expand global access to high-quality biosimilars. With
Intas’ proven expertise in oncology and biosimilars, our nivolumab candidate is well-positioned to reach
patients worldwide, providing a more affordable treatment option for cancer care. We are grateful for
KYBORA’s strategic guidance, which was instrumental in securing this transformative agreement and
advancing our mission to make innovative therapies more accessible globally.”

Jean Chatellier, Executive Vice President and Managing Director of KYBORA, added: “This partnership
marks a pivotal moment in the biosimilars landscape, paving the way for more accessible cancer
treatments globally. We are proud to have supported Xbrane in achieving this transformative agreement
and are excited about the positive impact this collaboration will bring to global healthcare. This
transaction underscores KYBORA’s expertise in guiding biopharma companies through complex, high-
value deals. Our commitment remains steadfast: empowering our clients to drive medical innovation and
deliver meaningful value to patients around the world.”

KYBORA’s involvement underscores its expertise in structuring and closing global partnerships that foster innovation and broaden access to life-changing therapies.

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About KYBORA – KYBORA is a global advisory firm and investment bank whose mission is to guide transformative healthcare companies to enduring success globally. We provide M&A, licensing, fundraising, and strategic advisory services to the global biopharma industry, creating value for our clients worldwide. With offices in the US, Switzerland, and China, and a direct presence in all key biopharma markets around the world, KYBORA offers unparalleled global reach and local knowledge. Contact us to explore how we can help you address your most pressing challenges.