Alvotech completes a $50M strategic investment from Fuji Pharma.
The announcement comes shortly after Alvotech and Fuji Pharma entered into an exclusive agreement for development and commercialization of biosimilars in Japan.
Key shareholders in Alvotech following the transaction are Aztiq Pharma AB, which is the controlling shareholder led by Robert Wessman, generic pharmaceutical company Alvogen and Fuji Pharma.
Alvotech, founded in 2013 and led by CEO Robert Wessman, has a pipeline consisting of six biosimilar monoclonal antibodies aimed at treating cancer, autoimmune, inflammatory and other diseases, with first products expected to be brought to market by 2020. The company has invested in a valuable product pipeline and built a new state‐of‐the‐art biopharmaceutical facility in Reykjavik, Iceland. Development centers are based in Germany and Switzerland, and the company employees over 250 scientists.
Alvotech recently announced a joint venture valued at US$200 million with Changchun High & New Technology in China, that further strengthens the company‘s market access in the APAC region. The partnership gives Alvotech a direct access to the second largest pharmaceutical market in the world and 50% ownership in a new state‐of‐the‐art biologics manufacturing facility in Changchun.