Valorum partners on Formycon’s Eylea biosimilar

Germany’s Formycon (FSE: FYB) announced that Klinge Biopharma, the exclusive owner of the global commercialization rights of FYB203/Ahzantive (aflibercept-mrbb), Formycon’s biosimilar to Bayer’s (BAYN: DE) Eylea, concluded an exclusive license agreement with US biosimilars specialist Valorum Biologics for the commercialization of the product in the USA and Canada.

As a result, Klinge is eligible to receive undisclosed upfront 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 the drug and will receive additional service payments and a volume-based profit component for organizing the commercial market supply on behalf of Klinge.

Valorum is a biosimilar commercialization specialist established by experienced industry leaders including past presidents of AmerisourceBergen, Cardinal Health and general manager of McKesson, respectively. The company is focused on best-in-class commercialization of biosimilars in the U.S. to improve access, reach and cost savings for the healthcare system. Valorum has built a team with unparalleled experience and established networks across the US pharmaceutical market and will be well positioned to maximize the commercial potential of FYB203/ Ahzantive. The team has collectively launched several multi-billion-dollar pharmaceutical products within large pharmaceutical organizations such as Johnson & Johnson (NYSE: JNJ), Merck & Co (NYSE: MRK) and Roche (ROG: SIX) in the past.