BASEL (dpa-AFX) - Sandoz, a Novartis division (NVS), said that it has reached a commercialization agreement for biosimilar bevacizumab with Bio-Thera Solutions Ltd., for treatment of multiple types of cancers.
Bevacizumab is a recombinant humanized monoclonal IgG1 antibody that targets vascular endothelial growth factor (VEGF), a key mediator of angiogenesis in cancer, and is used in combination with other treatments.
Bio-Thera will maintain responsibility for development and manufacturing, Sandoz will have the right to commercialize the medicine upon approval in the US, Europe, Canada and selected other countries.
As per the terms of the deal, Bio-Thera will receive an upfront and milestone payments and is entitled to receive profit share payments in the partnered territory.
Copyright RTT News/dpa-AFX
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