Bio-Thera Solutions, Ltd. and Hikma Pharmaceuticals PLC announced that they have entered into a commercialization and license agreement to commercialize BAT2206, a monoclonal antibody that is a proposed biosimilar referencing Stelara (ustekinumab), in the United States (US). BAT2206 is currently in a global Phase III clinical trial. Under the agreement, Bio-Thera will maintain responsibility for development, manufacturing, and supply of BAT2206.

Hikma will have exclusive rights to commercialize the product in the US. The agreement also provides Hikma with a first-right-to-negotiate to add Europe (excluding CIS countries). Bio-Thera is eligible for an upfront payment of $20 million as well as further development and commercial milestones of up to $130 million.