By Colin Kellaher

Biogen Inc. Thursday said it signed a license agreement with Bio-Thera Solutions Ltd. to develop, manufacture and commercialize Bio-Thera's BAT1806, a proposed biosimilar to Roche Holdings AG's blockbuster rheumatoid-arthritis drug Actemra.

Biogen said it will make an upfront payment of $30 million to Guangzhou, China, biopharmaceutical company Bio-Thera, contingent upon a Phase 3 study of BAT1806 achieving satisfactory results.

The Cambridge, Mass., biopharmaceutical company said it will gain exclusive regulatory, manufacturing and commercial rights to BAT1806 in all countries excluding China, while Bio-Thera will be eligible for potential milestone payments, along with royalties on sales.

Biosimilars are near-copies of biologic drugs, such as Actemra, that are made from living cells and are analogous to generic copies of traditional pill-form medicines. Worldwide sales of Actemra topped $3 billion last year.

Biogen said it expects to complete the transaction in the second quarter.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

04-08-21 0924ET