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Xbrane Biopharma AB ( (SE:XBRANE) ) just unveiled an announcement.
Xbrane Biopharma and its strategic partner Intas Pharmaceuticals have revised their financing arrangement for Xdivane, a biosimilar candidate referencing cancer immunotherapy drug Opdivo®. Under the original 2024 license deal, Xbrane leads CMC-related development and Intas handles clinical development and global commercialization through Accord, with Xbrane earning a double-digit share of future profits.
Under the new terms, Intas will finance certain CMC-related activities carried out by Xbrane’s contract manufacturer, easing Xbrane’s near-term cash burden while development continues on plan. Intas also receives an option to replace future profit-sharing with a one-time lump-sum payment equal to 40 months of forecast profit share, and any Intas-funded amounts will accrue an 18% annual markup and be offset against future payments to Xbrane.
Xbrane retains responsibility for CMC development and may repay Intas’ accumulated expenditure within six months to resume self-financing, which would cancel the lump-sum option for those costs. The collaboration structure and clinical and commercial responsibilities remain unchanged, indicating that while the financial mechanics are adjusted to support ongoing work on Xdivane, the overall development and commercialization strategy is intact.
More about Xbrane Biopharma AB
Xbrane Biopharma AB is a Sweden-based biopharmaceutical company that develops biological drugs using a patented platform designed to significantly lower production costs compared with competing systems. The company focuses on a portfolio of biosimilar candidates targeting reference products with an estimated EUR 23 billion in annual peak sales, led by Ximluci®, which received European market authorization and was launched in 2023.
Average Trading Volume: 62,502
Technical Sentiment Signal: Sell
Current Market Cap: SEK226.7M
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