Samsung Bioepis said Monday that it has signed a licensing agreement with C-Bridge Capital, a Chinese venture fund company.
Under the accord, C-Bridge will establish a new biopharmaceutical company, AffaMed Therapeutics, which will collaborate with Samsung Bioepis across a number of areas, including clinical development, regulatory registration and commercialization on Samsung Bioepis’ three biosimilars -- SB11 (original: Lucentis), SB12 (original: Soliris), and SB3 (original: Herceptin) -- in China.
Samsung Bioepis will receive an upfront payment, as well as royalties on sales. The two companies did not disclose any additional financial details.
“We want to play an important role in widening access to high-quality healthcare for patients throughout China,” Samsung Bioepis CEO Ko Han-sung said. “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.”
The agreement comes at a time when Samsung Bioepis is expanding its biosimilar business in China.
In January, the company signed a licensing agreement with 3SBio, a Chinese biotechnology firm, for multiple biosimilar candidates from Samsung Bioepis, including SB8 (original: Avastin).