Shots:

• Innovent to receive $45M as upfront- development & regulatory milestone and royalties on sales of the therapy in the licensed territories while Coherus plans to file BLA to the US FDA in H2’20 or H1’21. Additionally- Coherus get an option to commercialize Innovent’s biosimilar to Rituxan (rituximab) in the US and Canada
• If option exercises- financial terms will be the same as a biosimilar to Avastin. The agreement fosters Coherus’ oncology pipeline and leverages its commercial infrastructure in the US
• Innovent’s biosimilar to Avastin has completed its P-III study in China with its accepted NMPA application in 2019 and has received PR status. Addition of Avastin biosimilar complements Coheres’ Udenyca and advance its focus to improve patient access and lower healthcare costs in the US

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