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.
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
Phone Number 1-800-794-5434
Media contact for Daiichi Sankyo Co. Ltd.: +81-3-6225-1126
SOURCE Coherus BioSciences