Helvetic BioPharma to market Xbrane's ranibizumab biosimilar, Xlucane, in Iran

Swedish company Xbrane Biopharma has signed a sales and distribution agreement for its ranibizumab biosimilar with Swiss biopharma company Helvetic BioPharma for launch in the Iranian market.

Xlucane is a biosimilar version of Novartis (NOVN: VX) and Roche’s (ROG: SIX) Lucentis, containing the active substance ranibizumab, and is used primarily for treatment of the wet form of age related macular degeneration (wet-AMD), an eye disease that leads to impaired vision and in worst case blindness. Lucentis currently generates annual sales of approximately 3.8 billion euros ($4.15 billion) globally (source: IMS health). The deal is based on milestone payments during 2016 and royalty payments per sold dose. Product launch is expected during 2017.

"This agreement gives us a strong position as the first company on the Iranian market to sell a Ranibizumab biosimilar. Helvetic BioPharma estimates that 70.000 people suffer from the disease in Iran, as the prevalence of the disease is similar to the rest of the world. Through this agreement we will be able to bring Xlucane to the market in Iran much earlier than previously planned and it also enables us to accelerate commercialization in other geographies," says Martin Åmark, chief executive of Xbrane Biopharma.