Xbrane Biopharma - Biosimilar focus after successful partnering
Xbrane now focuses on developing high-margin biosimilar products. In July, Xbrane did a deal with STADA on Xlucane, its Lucentis biosimilar and gained an upfront fee of €7.5m; management estimates that Xbrane’s 50:50 profit share could be worth up to €100m per year. STADA will market Xlucane. Xbrane aims to start clinical development in Q119. In drug delivery, Spherotide bulk sales to Iran were SEK14m to June 2018. In Europe, the key market, Spherotide development requires a partner to fund trials. The Chinese deal with CR Pharma completed in February, bringing a SEK13m fee. Our valuation has been revised to SEK581m.Xbrane Biopharma AB, formerly Xbrane Bioscience AB, is a Sweden-based provider of biotechnology research and development services. It develops biogenerics for injectable slow release drugs and high-yield protein expression technology for the development of biosimilars. The Company's main products are Sperotide, a generic on the originator drug marketed under the trademarks Decapeptyl, Trelstar and Pamorelin, as well as Xlucane, a biosimilar on the originator drug sold under the trademark Lucentis.
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