Samsung Bioepis has signed a licensing agreement with 3SBio, a Chinese biotechnology firm, to expand its biosimilar business in China.
The agreement covers multiple biosimilar candidates from Samsung Bioepis, including SB8, a biosimilar candidate referencing Avastin (Ingredient: bevacizumab).
Under the agreement, Samsung Bioepis and 3SBio will collaborate across various areas such as clinical development, regulatory registration and commercialization in China. Samsung Bioepis will receive upfront and milestone payments, as well as royalties on sales, the company said.
The company did not disclose additional financial details.
“We are very excited to expand our biosimilar business into China, where we hope to see our biosimilars play an important role in widening patient access to high-quality healthcare,” Samsung Bioepis CEO Ko Han-sung said.
The company is confident that it will achieve this goal through its partnership with 3SBio, which brings together Samsung Bioepis’ proven development platform with 3SBio’s robust commercialization platform, Ko added.
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