Samsung Bioepis has joined hands with another Chinese partner to expand its biosimilar business in the world’s second largest bio market.
Samsung’s biopharmaceutical arm announced Monday that it has sealed a licensing agreement with C-Bridge Capital, a Chinese venture fund company. The agreement covers the company’s biosimilar candidates including one referencing a breast cancer drug.
In January, Samsung Bioepis signed a similar partnership agreement with 3SBio, a Chinese biopharmaceutical firm, for multiple biosimilar candidates such as “SB8,” which is used for the treatment of colorectal cancer and lung cancer.
Under the new agreement, C-Bridge will establish a new biopharmaceutical company “AffaMed Therapeutics” to collaborate with Samsung Bioepis for the commercialization of approved products in China. Samsung Bioepis will receive an upfront payment and royalties on sales. “C-Bridge is the right partner for us to expand our business in the Chinese market,” Samsung Bioepis CEO Ko Han-seung said.
Established in 2014, C-Bridge is a healthcare firm with its business portfolio covering diverse areas including biopharmaceuticals and medical devices. Currently, the Chinese firm reportedly manages around two trillion won worth of assets.
Seok-Jun Bae email@example.com