Xbrane Biopharma AB (publ) ("Xbrane" or the "Company") announced today that the transaction with Alvotech hf and its subsidiary Alvotech Sweden AB (jointly "Alvotech") regarding the sale of the biosimilar candidate XB003 (Cimzia) as well as parts of its organization has been completed, and that all regulatory conditions have been fulfilled.
The transaction, which was announced on March 20, 2025, and approved by the Extraordinary General Meeting on April 14, 2025, entails a total purchase price of approximately SEK 275 million, consisting of:
"By completing this transaction, we significantly strengthen our financial position and can now fully focus on realizing the potential of our remaining programs, particularly Ximluci and Xdivane. We look forward to continuing our work in biosimilar development and creating value for our shareholders and patients," said Martin Åmark, CEO of Xbrane Biopharma.