Bio-Thera Solutions sells China Avastin biosimilar rights for up to $165M
China-based biotech firms Bio-Thera Solutions (SHA: 688177) and BeiGene (Nasdaq: BGNE) have executed a license, distribution, and supply agreement for China for Bio-Thera’s BAT1706, an investigational biosimilar to Roche’s (ROG: SIX) Avastin (bevacizumab).
The China National Medical Products Administration (NMPA) in June accepted Bio-Thera’s Biologics License Application (BLA) for BAT1706. Bevacizumab has been approved in China for advanced, metastatic, or relapsed non-small cell lung cancer and metastatic colorectal cancer.
The agreement is subject to approval by the shareholders of Bio-Thera at a meeting to be held in September 2020.
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