Alvotech acquires Xbrane's R&D operations in Sweden, expanding its development capabilities
From GlobeNewswire: 2025-03-20 03:00:00
Alvotech announced the acquisition of Xbrane Biopharma AB’s R&D operations and biosimilar candidate XB003, expanding its development capabilities and establishing a presence in the Swedish life science sector. The transaction is valued at approximately SEK 275 million ($27 million) and is expected to close in April 2025, pending approvals. Alvotech plans to explore the listing of Swedish Depository Receipts on Nasdaq Stockholm in the future. The Board of Directors of Xbrane unanimously supports the acquisition, which allows Xbrane to focus on commercializing its portfolio. Employees in Xbrane’s R&D operations will be offered the opportunity to join Alvotech’s R&D unit.
Alvotech’s founder, Chairman, and CEO, Robert Wessman, highlighted the strategic importance of the acquisition in expanding the company’s development capacity and presence in the Swedish life science sector. The transaction will enhance Alvotech’s position as a leader in biosimilars globally. Xbrane’s CEO, Martin Åmark, emphasized the financial benefits for Xbrane and its ability to focus on key biosimilar candidates, such as Ximluci and Xdivane. Alvotech, headquartered in Reykjavik, Iceland, aims to deliver high-quality, cost-effective biosimilar products globally through strategic commercial partnerships.
Alvotech has invested approximately $1.9 billion in its biosimilars R&D and manufacturing platform since 2013, building a valuable portfolio of biosimilar candidates. The company collaborates with 19 commercial partners in over 90 global markets to increase patient access to biologics. DNB Carnegie is serving as the financial advisor to Alvotech for the acquisition, with legal advice from Cirio and Westerberg. Alvotech’s mission is to be a global leader in the biosimilar space, leveraging its integrated approach and in-house capabilities to provide innovative solutions for patients worldwide.
Read more at GlobeNewswire: Alvotech Acquires Xbrane’s R&D Operations in Sweden and