Xbrane Biopharma AB (publ) ('Xbrane' eller 'Bolaget') (Nasdaq Stockholm: XBRANE), a leading biosimilar developer, has announced the initiation of developing two new biosimilar candidates referencing Keytruda and Darzalex respectively.
Together with the continued development of Xdivane, a biosimilar candidate referencing Opdivo, this forms an oncology biosimilar portfolio addressing EUR23 billion of combined annual reference product sales. Due to the announcement, Xbrane will host a videoconference tomorrow Tuesday December 14th, 11.00-11.45, registration in the link below.
At the capital markets day held on May 17, 2021, Xbrane announced its ambition to start developing at least one new biosimilar candidate per year. Following a thorough strategic portfolio review and preparatory work during the fall of 2021, Xbrane's board of directors decided to initiate the development of biosimilar candidates referencing Keytruda and Darzalex.
Keytruda is a PD1 inhibitor used in oncology treatment with annual sales of EUR13 billion. Darzalex is a CD38 inhibitor used in the treatment of Multiple Myeloma with annual sales of EUR3.8 billion. Together with Xdivane, these new biosimilar candidates form an oncology biosimilar portfolio targeting EUR23 billion combined in annual reference product sales, which could be launched in 2028-2029 when the respective patents expire.
With the development of Xdivane, Xbrane has expanded its high-yield protein expression platform into mammalian cells, resulting in five recently approved patents. Xbrane will leverage this platform for the upcoming programs with the aim of getting the lowest production costs amongst competing biosimilars on the market.
'With our high-yield platform technology, experienced team, and recently established development lab, we believe we are well positioned to accelerate the development of our portfolio. The development of this oncology biosimilar portfolio poses a real opportunity for us to make a sizable difference and to improve the accessibility of critical oncology products for millions of patients world-wide,' says Martin Amark, CEO of Xbrane
Tel: +46 76 309 37 77
Xbrane Biopharma AB develops biological drugs based on a platform technology that provides significantly lower production costs compared to competing systems. Xbrane's leading product Xlucane, a Lucentis biosimilar candidate, addresses the EUR 10.4bn ophthalmic VEGFa inhibitor market. Marketing authorization of Xlucane is expected for the second half of 2022. Xbrane has additionally two biosimilar candidates in its pipeline targeting EUR 7.9bn in originator sales. Xbrane's head office is in Solna, just outside Stockholm. Xbrane is listed on Nasdaq Stockholm under the ticker XBRANE.
This information is information that Xbrane Biopharma is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2021-12-13 20:00 CET.
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