Alvotech acquires the research operations of Xbrane Biopharma AB and with it XB 003 referencing Cimzia (certolizumab pegol).

Alvotech ,a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide, announced the acquisition of Xbrane Biopharma AB’s R&D operations and a biosimilar candidate , further expanding Alvotech’s development capabilities, and establishing a footprint in the Swedish life science sector. The Acquisition includes Xbrane’s R&D operations based in Campus Solna, at the Karolinska Institute outside Stockholm, Sweden, as well as the biosimilar candidate XB 003, referencing Cimzia (certolizumab pegol). Xbrane retains other pre-clinical assets and will focus on the commercialization of this portfolio. Alvotech also announced that it intends to explore the possibility of a listing of Swedish Depository Receipts (SDR), equity share equivalents, on Nasdaq Stockholm, in the future