Biogen, Bio-Thera Ink Licensing Agreement For Development Of Actemra-Based Biosimilar For Rheumatoid Arthritis

Biogen Inc (NASDAQ: BIIB) and Bio-Thera Solutions Ltd have entered into a commercialization and license agreement to develop, manufacture, and commercialize BAT1806, a proposed biosimilar referencing Genentech's Actemra (tocilizumab).
The anti-interleukin-6 (IL-6) receptor monoclonal antibody is currently in a Phase 3 study.
Actemra's primary indication is for moderate to severe rheumatoid arthritis in adults and juvenile idiopathic polyarthritis, systemic juvenile idiopathic arthritis, giant cell arteritis, and cytokine release syndrome.
Biogen will gain exclusive regulatory, manufacturing, and commercial rights to BAT1806 in all countries, excluding China (including Hong Kong, Macau, and Taiwan).
Under the terms of the agreement, Biogen will make an upfront payment of $30 million to Bio-Thera Solutions, contingent upon Bio-Thera Solutions' Phase 3 for BAT1806 achieving satisfactory results.
Bio-Thera Solutions is also eligible to receive potential milestone payments, as well as tiered royalties.
The transaction is expected to close in the second quarter of 2021.
Price Action: BIIB shares are down 0.05% at $267.88 in the market trading session on the last check Thursday.

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