Alvotech completes US $300 million financing deal
Fuels growth and biosimilar development in a fast-growing market.
Alvotech has successfully raised $300 million through a private bond offering. Net proceeds from the capital raised will be used to fuel continued growth, refinance of existing debt and the further development of Alvotech’s biosimilar assets.
Robert Wessman, Founder of Alvotech, said: “This successful financing transaction will help fund Alvotech’s plans for future growth and secure the financing of further biosimilar development and clinical studies, the results of which bring significant potential for healthcare providers around the world to drive healthcare savings and expand patient access to high quality biosimilars.“
Alvotech‘s current product pipeline consists of six biosimilar monoclonal antibodies aimed at treating cancer, autoimmune, inflammatory and other diseases. he company has established itself as a fully integrated biopharmaceutical company, ranging from cell line development of biosimilars to manufacturing, clinical development and registrations. Each of these high quality biosimilars will be produced at the company’s new state-of-the-art manufacturing facility in Reykjavik, Iceland.
Alvotech recently announced that Japan-based Fuji Pharma will acquire approximately 4.2% equity in the company. That transaction was closed on 16 January 2019. In addition, Alvotech and Fuji Pharma have a partnership agreement in place that will further expand the company‘s presence in the Asia-Pacific region. This will enable Alvotech to commercialize its biosimilar portfolio in Japan, one of the world‘s largest pharmaceutical markets.
In September 2018, Alvotech announced a joint-venture partnership agreement valued at $200 million with Changchun High & New Technology Industries Group Inc, where a new state-of-the-art biologics drugs manufacturing facility will be built in Changchun, China. Alvotech is currently in various active partnership negotiations with partners in all key markets.
Related News
-
News Pharmapack Awards 2024 Patient-Centric Design Award Winner – Dr Ferrer BioPharma
The 2024 Pharmapack Awards celebrated the best in innovation and design for the pharmaceutical packaging and drug delivery industry on January 24, 2024. -
News Women in Pharma: Minding the Gap at Pharmapack 2024
2024 marks the first year Pharmapack will host a Diversity track dedicated to bridging the gap within the pharmaceutical packaging and drug delivery sector. The track includes a panel discussion on 'Enabling Diversity in the Workplace,' focused... -
News Pharmapack Awards 2024 - Celebrating Packaging and Drug Delivery Innovation
The 2024 Pharmapack Innovation Awards ceremony celebrated the best in pharmaceutical packaging and drug delivery innovation at all levels. The awards were held on January 24, 2024 at the Paris Expo Porte de Versailles. -
News 2024 Pharma Industry Trends Outlook: Collaboration, Market Maturity, and Digital Futures
The annual CPHI Online 2024 Pharma Trends Outlook, in partnership with Arvato Systems, identifies 12 key industry trends shaping the life sciences industry in the coming year. -
News New Novo Nordisk AI hub for drug discovery to open in London, UK
Danish pharmaceutical giant Novo Nordisk will be opening an AI-based research facility in the heart of London to advance drug discovery operations. -
News BioNTech to begin mRNA vaccine manufacturing in Rwanda by 2025
German biotechnology company BioNTech has stated their intentions to begin production at their mRNA vaccine factory in Rwanda by 2025, which will mark the first foreign mRNA vaccine manufacturing site on the continent of Africa. -
News Women in Pharma: Looking back on 2023 and moving forward to 2024
In this monthly series, we interview women from across the pharmaceutical industry and supply chain to discuss the importance of gender diversity in healthcare, the workplace, and beyond. -
News CPHI Barcelona 2023: Partnering for Success – Managing Outsourcing Relationships to Optimise Manufacturing Operations
During CPHI Barcelona 2023, insightful content sessions offered attendees the chance to explore trending topics with expert speakers and panellists. Here, we summarise what the pharma industry and supply chain are talking about the most.
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance