Shots:

• BiosanaPharma is eligible to receive an up front & will also be eligible for royalties. Additionally, Alvotech to get exclusive global rights for AVT23, a proposed biosimilar to Xolair
• The companies will jointly develop AVT23 which is currently in late-stage development. BiosanaPharma is reporting the completion of a PK study that showed that AVT23’s bioavailability, safety, tolerability, and immunogenicity were comparable to Xolair
• On Dec 7, 2021, Alvotech had entered into a definitive business combination agreement with Oaktree where combined company’s securities are expected to be traded on NASDAQ under the ticker “ALVO”, upon the closing of the transaction

Ref: Alvotech | Image: Alvotech