Coherus gets US rights to Eylea biosimilar
California, USA-based Coherus BioSciences’ (Nasdaq: CHRS) shares closed up almost 10% at $9.85 yesterday, when it announced the execution of a binding term sheet with Germany’s Klinge Biopharma for the exclusive US commercialization rights to FYB203, a biosimilar candidate to Eylea (aflibercept), a treatment for retinal diseases market, which is a leading product for Bayer (BAYN: DE) and generated global third-quarter 2022 sales of 811 million euros ($871 million).
The companies expect to complete the transaction in first-quarter 2023, and Coherus plans to file a Biologics License Application with the US Food and Drug Administration (FDA) later this year. Coherus intends to launch the product at Eylea biosimilar market formation, currently expected to be in 2025, if approved.
Terms of the accord
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