Alvotech raises $300m to further biosimilar development

Partnership investment from LEO Pharma for Gore Range
Credit: Shutterstock.com/ arka38

Alvotech has raised $300 million through a private bond offering to fuel growth, refinance existing debt and further the development of its biosimilar assets.

Robert Wessman, founder of Alvotech, said: “This successful financing transaction will help fund Alvotech’s plans for future growth and secure the financing of further biosimilar development and clinical studies, the results of which bring significant potential for healthcare providers around the world to drive healthcare savings and expand patient access to high quality biosimilars.”

Alvotech‘s current product pipeline consists of six biosimilar monoclonal antibodies aimed at treating cancer, autoimmune, inflammatory and other diseases.

The company has established itself as a fully integrated biopharmaceutical company, ranging from cell line development of biosimilars to manufacturing, clinical development and registrations.

Each of these high quality biosimilars will be produced at the company’s new state of the art manufacturing facility in Reykjavik, Iceland.