Korea’s Samsung Bioepis is expanding its reach in mainland China after securing a licensing agreement with C-Bridge Capital to develop and commercialise next-gen biosimilars in China.
The agreement covers multiple biosimilar candidates from Samsung Bioepis, including third-wave biosimilar candidates SB11 and SB12 – referencing Lucentis and Soliris respectively – as well as SB3, a biosimilar candidate referencing Herceptin.
As per the agreement, C-Bridge will establish a new biopharmaceutical company – dubbed AffaMed Therapeutics – which will collaborate with Samsung Bioepis across a number of areas, including clinical development, regulatory registration and commercialization in China.
Samsung Bioepis will receive an upfront payment, as well as royalties on sales. Additional financial details, however, were not disclosed.
Christopher Hansung Ko, President and Chief Executive Officer, Samsung Bioepis, said: “We want to play an important role in widening access to high-quality healthcare for patients throughout China.
“C-Bridge is the right partner for this mission as evidenced in its exceptional track record of successfully turning portfolio companies like AffaMed Therapeutics into leading biopharmaceutical companies in China and beyond.”
Samsung Bioepis currently has four biosimilars approved and marketed across Europe, with one on the market in the US and another having secured FDA approval.