Valorum Biologics Becomes Commercialization Partner for Formycon’s Eylea Biosimilar FYB203/Ahzantive in the US and Canada
Formycon announced that Klinge Biopharma, the exclusive owner of the global commercialization rights of FYB203/Ahzantive (aflibercept-mrbb), Formycon’s biosimilar to Eylea, concluded an exclusive license agreement with US biosimilars specialist Valorum Biologics for the commercialization of FYB203/Ahzantive in the United States and Canada.
Upon signature of the agreement, Klinge is eligible to receive upfront payments and milestone payments, plus royalties on net sales. Formycon will participate in the mid-single-digit to low-double-digit percentage range in all payment streams to Klinge resulting from this agreement. Furthermore, Formycon will act as authorized designee to organize the supply chain for FYB203/Ahzantive and will receive additional service payments and a volume-based profit component for organizing the commercial market supply on behalf of Klinge.
“Partnering with Valorum as a dedicated market specialist builds a key success component for the commercialization of FYB203/Ahzantive in the United States. and Canada. The highly experienced management team with profound knowledge of U.S. market dynamics along with a strong customer network makes Valorum a powerful choice to drive the commercialization of our second ophthalmic biosimilar product. We are delighted to join forces with this highly committed partner to maximize the market potential of Ahzantive and further strengthen our strategic position as biosimilar player,” said Dr. Stefan Glombitza, CEO of Formycon.
Par Hyare, CEO of Valorum Biologics, added: “We are pleased to introduce Ahzantive in the United States and Canada, recognizing its strong potential as a biosimilar to Eylea. With our team’s proven expertise in specialty markets and established track record of commercial excellence, we are committed to driving broad market adoption, reinforcing our industry leadership, and helping reduce financial burdens for patients and providers alike.”
Wolfgang Essler, chief representative of ATHOS KG and chairman of the supervisory board of Formycon, commented: “Biosimilars will become even more a game-changer in the US health care system. As the industry moves toward more sustainable healthcare models, biosimilars provide a unique opportunity to improve patient access to life-saving treatments while reducing the overall burden on the health care system. We believe in the great potential of Formycon’s high-quality biosimilar products and are convinced that the partnership with Valorum will set the course for additional commercial success.”