Samsung Bioepis and C-Bridge Capital to Develop and Commercialize Next-Generation Biosimilars in China
· Agreement covers Samsung Bioepis’ third-wave biosimilar candidates SB11 and SB12, which reference LUCENTIS®i (ranibizumab) and SOLIRIS®ii (eculizumab), respectively
· Partnership brings together Samsung Bioepis’ proven agile biologics development platform and C-Bridge’s strong capital resource and China healthcare expertise
· C-Bridge Capital forms new biopharmaceutical company, AffaMed Therapeutics, which will collaborate with Samsung Bioepis to accelerate clinical development and registration of Samsung Bioepis’ next-generation biosimilars in China.
INCHEON, KOREA – February 11, 2019 – Samsung Bioepis Co., Ltd. today announced its expansion in mainland China through a licensing agreement with C-Bridge Capital. The agreement covers multiple biosimilar candidates from Samsung Bioepis, including third-wave biosimilar candidates SB11 and SB12, which reference LUCENTIS® (ranibizumab) and SOLIRIS® (eculizumab), respectively, as well as SB3, a biosimilar candidate referencing HERCEPTIN®iii (trastuzumab).
Under the agreement, 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 in China. Samsung Bioepis will receive an upfront payment, as well as royalties on sales. Additional financial details were not disclosed.
“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,” said Christopher Hansung Ko, President and Chief Executive Officer, Samsung Bioepis. “At Samsung Bioepis, we will continue to demonstrate our enduring commitment to biosimilars by further strengthening our pipeline and widening their availability for patients and healthcare systems across the world.”
Established in February 2012, Samsung Bioepis currently has four biosimilars approved and marketed across Europe, which include the anti-TNF trio of BENEPALI™ (etanercept), FLIXABI™ (infliximab) and IMRALDI™ (adalimumab), as well as an oncologic biosimilar, ONTRUZANT® (trastuzumab). In the United States, the company has one biosimilar – RENFLEXIS® (infliximab-abda) –.on the market, while another biosimilar – ONTRUZANT® (trastuzumab-dttb) – has been approved by the U.S. Food and Drug Administration (FDA). A Biologics License Application (BLA) for SB5 (adalimumab) biosimilar candidate is currently under review at the FDA.
In total, over 100,000 patients across the world are currently under treatment with Samsung Bioepis’ biosimilars, with over 6 million doses administered.
About AffaMed Therapeutics
AffaMed Therapeutics is a biopharmaceutical company focused on identifying and licensing late stage candidates for commercialization in emerging Asia Pacific markets and globally. AffaMed was founded and funded by C-Bridge Capital in 2019.
About C-Bridge Capital
C-Bridge Capital is a healthcare dedicated private equity firm, focused on growth and late stage investment opportunities across healthcare industry. C-Bridge Capital’s current portfolio includes China’s leading players in pharmaceuticals, medical devices, diagnosis and healthcare services. As of today, the AUM of C-Bridge Capital has exceeded US$1.8 Billion. C-Bridge Capital is committed to support commercialization of cutting-edge technologies and companies that fulfil unmet medical needs, thus continuously improving the standard and quality of care for patients.
About Samsung Bioepis Co., Ltd.
Established in 2012, Samsung Bioepis is a biopharmaceutical company committed to realizing healthcare that is accessible to everyone. Through innovations in product development and a firm commitment to quality, Samsung Bioepis aims to become the world's leading biopharmaceutical company. Samsung Bioepis continues to advance a broad pipeline of biosimilar candidates that cover a spectrum of therapeutic areas, including immunology, oncology, ophthalmology and hematology. Samsung Bioepis is a joint venture between Samsung BioLogics and Biogen. For more information, please visit: www.samsungbioepis.com.
i LUCENTIS® is a registered trademark of Genentech.
ii SOLIRIS® is a registered trademark of Alexion.
iii HERCEPTIN® is a registered trademark of Genentech