Alvotech completes US $300 million financing deal

Fuels growth and biosimilar development in a fast-growing market.

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.