Overview
Frankfurt, May 29, 2024 – McDermott Will & Emery advised STADA Arzneimittel AG on entering into an exclusive commercialization and license agreement with Bio-Thera Solutions. Ltd. for BAT2506, a biosimilar candidate to Simponi® (golimumab).
Under the agreement, Bio-Thera will maintain responsibility for the development, manufacturing and supply of BAT2506. STADA will receive exclusive rights to commercialize the product in the EU, the UK, Switzerland and selected other countries under its own marketing authorization.
Bio-Thera will receive payments, including development and commercialization milestones, of up to USD 157.5 million, subject to certain conditions being met.
Bio-Thera Solutions is a biopharmaceutical company based in Guangzhou, China, specializing in the development of novel therapeutics for, among others, the treatment of cancer, autoimmune and cardiovascular diseases as well as biosimilars for existing branded biologics.
STADA Arzneimittel AG, based in Bad Vilbel, Germany, focuses on a three-pillar strategy consisting of consumer healthcare products, generics and speciality pharma. The company sells products in around 115 countries worldwide. In the financial year 2023, STADA generated consolidated sales of EUR 3.73 billion, and employed over 11,600 people worldwide as of 31 December 2023.
The McDermott team advising STADA was led by counsel Monika Richter and included counsel Gary Howes, partner Deniz Tschammler, partner Henrik Holzapfel, counsel Laura Stammwitz, and associate Katharina Hoffmeister.
