REDWOOD CITY, Calif. and
TOKYO, May
7, 2012 /PRNewswire/ -- Coherus BioSciences, Inc
(hereafter, Coherus BioSciences) and Daiichi Sankyo, Co. Ltd.
(hereafter, Daiichi Sankyo; TSE 4568) announced today the execution
of an exclusive agreement to develop and commercialize biosimilar
forms of etanercept and rituximab in certain Asian countries
including Japan.
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Under the terms of the agreement, Daiichi Sankyo and Coherus
BioSciences will work together to develop, manufacture and
commercialize biosimilar forms of etanercept and rituximab
developed by Coherus BioSciences. Upon marketing approval, Daiichi
Sankyo will commercialize these products in Japan, South
Korea and Taiwan. Coherus
has retained all additional development and commercial rights
outside of the licensed territories. Specific financial terms
of the agreement were not disclosed.
"This collaboration to develop and commercialize these
biosimilar candidates with a leading global healthcare company such
as Daiichi Sankyo is a significant strategic event for Coherus
BioSciences and validates our unique business model strategy," said
Denny Lanfear, Chief Executive
Officer. "This agreement demonstrates that our strategy and
model position us well to make a major impact toward providing
access to biosimilar therapies for patients on a global basis."
"Coherus BioSciences has established an outstanding business
model, a very experienced biologic development team and outstanding
capabilities," said Joji Nakayama,
President & CEO of Daiichi Sankyo. "By creating an opportunity
for an early entry into the biosimilars market, this agreement will
strengthen our internal platform for manufacturing and developing
biopharmaceuticals, leading directly to the introduction of other
biosimilars therapies in the future."
Sagent Advisors acted as the exclusive advisor to Coherus
BioSciences in this licensing partnership with Daiichi Sankyo.
About Coherus BioSciences
Coherus BioSciences is an emerging biopharmaceutical company
headquartered in the San Francisco Bay
Area with an entirely new model for developing safe,
high-quality biosimilar therapeutics. Founded in 2010,
Coherus already has formed global partnerships with top tier pharma
and filled the pipeline with five product candidates focused on
treating oncology and inflammatory diseases. Led by a group
of early biotech pioneers, Coherus has reinvented the entire
business of developing biologic medicines, from concept to
commercialization, so that more patients around the world can have
greater access to quality therapeutics. For additional information,
please visit www.coherus.com.
About Daiichi Sankyo
The Daiichi Sankyo Group is dedicated to the creation and supply
of innovative pharmaceutical products to address the diversified,
unmet medical needs of patients in both mature and emerging
markets. While maintaining its portfolio of marketed
pharmaceuticals for hypertension, hyperlipidemia, and bacterial
infections, the Group is engaged in the development of treatments
for thrombotic disorders and focused on the discovery of novel
oncology and cardiovascular-metabolic therapies. Furthermore, the
Daiichi Sankyo Group has created a "Hybrid Business Model," which
will respond to market and customer diversity and optimize growth
opportunities across the value chain. For more information, please
visit www.daiichisankyo.com.
Contact: Maureen Lopez
Coherus BioSciences
Phone Number 1-800-794-5434
Media contact for Daiichi Sankyo Co. Ltd.: +81-3-6225-1126
SOURCE Coherus BioSciences
