Samsung Bioepis, a South Korean biopharma company, has signed a licensing agreement with private equity firm C-Bridge Capital to develop and commercialize next-generation biosimilars in China.
The agreement covers Samsung Bioepis’ various biosimilar candidates like SB11 and SB12, which reference LUCENTIS (ranibizumab) and SOLIRIS (eculizumab), respectively, and also SB3, a biosimilar candidate referencing HERCEPTIN 3 (trastuzumab).
As per the agreement, C-Bridge will set up a new biopharma company, called AffaMed Therapeutics, which will join forces with Samsung Bioepis for various areas such as clinical development, regulatory registration and commercialization in China.
Samsung Bioepis will be paid an upfront payment followed by royalties on sales. Additional financial details were not revealed by the partners.
Christopher Hansung Ko – President and CEO of Samsung Bioepis said: “We want to play an important role in widening access to high-quality healthcare for patients throughout China. C-Bridge is the right partner for this mission as evidenced in its exceptional track record of successfully turning portfolio companies like AffaMed Therapeutics into leading biopharmaceutical companies in China and beyond.
“At Samsung Bioepis, we will continue to demonstrate our enduring commitment to biosimilars by further strengthening our pipeline and widening their availability for patients and healthcare systems across the world.”
Founded in 2012, Samsung Bioepis has four biosimilars, that were approved in Europe in the form of anti-TNF trio of BENEPALI (etanercept), FLIXABI (infliximab), IMRALDI (adalimumab) and an oncologic biosimilar, called ONTRUZANT (trastuzumab).
In the US, the South Korean biopharma company has an approved and marketed biosimilar in the form of RENFLEXIS (infliximab-abda). The company’s another approved biosimilar in the US is ONTRUZANT (trastuzumab-dttb).
Currently, a Biologics License Application (BLA) for Samsung Bioepis’ SB5 (adalimumab) biosimilar candidate is being reviewed by the FDA.
Earlier this year, the South Korean biopharma company signed a licensing agreement with Chinese biotech company 3SBio to expand its biosimilar business in China. The agreement with 3SBio covers various biosimilar candidates from Samsung Bioepis, including SB8, a biosimilar candidate referencing AVASTIN (bevacizumab).