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Alvotech Raises $300M to Fuel Biosimilar Growth

Current pipeline consists of six biosimilar monoclonal antibodies aimed at treating cancer, autoimmune, inflammatory and other diseases

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Alvotech has raised $300 million through a private bond offering, from which it says net proceeds will be used to fuel continued growth, refinance existing debt and further develop biosimilar assets. 
 
“This successful financing transaction will help fund Alvotech’s plans for future growth and secure the financing of further biosimilar development and clinical studies, the results of which bring significant potential for healthcare providers around the world to drive healthcare savings and expand patient access to high quality biosimilars,” said Robert Wessman, founder, Alvotech.
 
Alvotech‘s current product pipeline consists of six biosimilar monoclonal antibodies aimed at treating cancer, autoimmune, inflammatory and other diseases. The company has established itself as a fully integrated biopharmaceutical company, ranging from cell line development of biosimilars to manufacturing, clinical development and registrations. Each of these biosimilars will be produced at the company’s new state of the art manufacturing facility in Reykjavik, Iceland.

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