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On September 8, Biotech announced that the company signed a licensing and commercialization agreement with Novartis’ subsidiary Sandoz AG (hereinafter referred to as “Sandoz”) to sell the company’s BAT1706 (bevacizumab) injection in the United States, The exclusive product commercialization rights in Europe, Canada and most other international markets not covered by the BAT1706 cooperation are licensed to Sandoz for a fee
The name of the transaction target: BAT1706 (bevacizumab) injection has exclusive product commercialization rights in the United States, Europe, Canada and most other international markets not covered by BAT1706 cooperation
Transaction amount: The total amount of down payment and milestone payment is up to 155 million US dollars, including 27.
Conditions for the agreement to enter into force: After both parties have signed and sealed and approved by Biotech’s board of directors, the matter does not need to be reviewed by the general meeting of shareholders
Agreement performance period: The term of this agreement will begin on the effective date and will expire 15 years after the first commercial sale in each country's market
BAT1706 is a monoclonal antibody developed by Biotec.
The company submitted BAT1706 marketing authorization applications to China NMPA, US FDA and European EMA in 2020
