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Innovent Out-licenses US-Canada Rights for Avastin Biosimilar to Coherus In $45 Million Deal

publication date: Jan 14, 2020

Suzhou Innovent Biologics out-licensed US-Canada rights for its Avastin® biosimilar to Coherus BioSciences. Coherus will pay $45 million in upfront and milestone payments, plus double-digit royalties. Coherus is a Redwood City, CA biopharma that develops its own biosimilars and in-licenses others. Coherus also has a non-exclusive option to license US-Canada rights to Innovent's Rituxan® biosimilar. Innovent cited Coherus' successful US launch of UDENYCA, a biosimilar to Amgen's Neupogen, as its reason for partnering with Coherus. More details....

Stock Symbols: (HK: 01801) (NSDQ: CHRS)

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