English | 简体中文 | 繁體中文 | 한국어 | 日本語
Monday, 15 March 2021, 17:38 HKT/SGT

Source: Alvotech
Alvotech Completes Second Round of a US$100 Million Private Placement

HONG KONG, Mar 15, 2021 - (ACN Newswire) - Multinational biopharmaceutical company Alvotech has successfully completed a second round of its US$100 million private placement, for US$35 million. The first round which was completed in October 2020, amounted to US$65 million. As part of the first round, Shinhan from Korea, Baxter Healthcare SA from the US and ATHOS (Strungmann Family Office) from Germany invested in Alvotech.

In the course of the second round, Alvotech is pleased to announce additional interest from a wider range of investors, including within Iceland and internationally.

Robert Wessman, Chairman of Alvotech, said: "We are very pleased to have secured this private placement, as we embark on the exciting phase in our evolution from a developer, to becoming a manufacturer and supplier of biosimilar medicines and we look forward to bringing our first products to market.

"We have signed partnership deals with leading biosimilar players in all the largest pharmaceutical markets in the world, enabling us to expand access to high quality biologics to patients worldwide.

"I am particularly delighted in the confidence of first time investors in the company, including those from my native Iceland where the heart of the Alvotech operation is based."

About Alvotech
Alvotech is a multinational biopharmaceutical company focused on the development and manufacturing of high quality biosimilars for global markets. We are specialists in biotechnology, seeking to be a global leader in the biosimilar space by delivering high quality, cost-competitive products and services to our partners and to patients worldwide. Our fully integrated approach, with high-quality in-house competencies throughout the value chain, enables the accelerated development of biosimilar products. Alvotech's shareholder base includes, among others, Aztiq Pharma, led by founder and Chairman Mr. Robert Wessman, Fuji Pharma from Japan, YAS Holdings form Abu Dhabi, Shinhan from Korea, Baxter Healthcare SA from the US, ATHOS (Strungmann Family Office) from Germany and CVC Capital Partners and Temasek from Singapore through their participation in Alvogen.

Alvotech's initial pipeline contains several monoclonal-antibody and fusion-protein biosimilar candidates aimed at treating autoimmunity, oncology and inflammatory conditions to improve quality of life for patients around the world. For more information, please visit our website, www.alvotech.com or follow us on LinkedIn, Twitter and Facebook.

For Media and Investor Enquiries:
Strategic Financial Relations Limited
Angelus Lau Tel: (852) 2864 4805 Email: [email protected]
Beverly Chiu Tel: (852) 2114 4329 Email: [email protected]
Carrie Leung Tel: (852) 2114 4912 Email: [email protected]

Topic: Press release summary
Source: Alvotech

Sectors: Daily Finance, Daily News, BioTech, Healthcare & Pharm
From the Asia Corporate News Network

Copyright © 2021 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


Alvotech Releated News
Mar 15, 2021 17:40 HKT/SGT
Alvotech完成第二轮私募融资 两轮融资总额达1亿美元
Mar 15, 2021 17:39 HKT/SGT
Alvotech完成第二輪私募融資 兩輪融資總額達1億美元
Mar 4, 2021 10:28 HKT/SGT
Alvotech与Cipla Gulf加强合作伙伴关系 在澳洲及新西兰为生物仿制药进行商品化
Mar 4, 2021 10:27 HKT/SGT
Alvotech與Cipla Gulf加強合作夥伴關係 在澳洲及新西蘭為生物仿製藥進行商品化
Mar 4, 2021 10:26 HKT/SGT
Alvotech and Cipla Gulf Expand Partnership for Commercialization of Biosimilars in Australia and New Zealand
More news >>
Copyright © 2021 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 400 879 3881 | Hong Kong: +852 8192 4922 | Singapore: +65 6653 1210 | Tokyo: +81 3 6859 8575