Xbrane Biopharma clarifies information regarding letter of intent with CR Pharma considering Xlucane

Press release
2018-01-15

Xbrane Biopharma ("Xbrane" or the "Company") signed the 7th of December 2017 a non-binding letter of intent with the Chinese pharmaceutical company CR Pharma regarding out-licensing of Xlucane for the Chinese market.

It has come to our attention that CR Pharma has on its website published news about a collaboration with Xbrane regarding Xlucane and Xbrane hereby clarifies the situation. Xbrane and CR Pharma has the joint intention to take Xlucane, a ranibizumab biosimilar, to the Chinese market. A non-binding letter of intent has been signed but no terms has yet been agreed. A detailed evaluation of the product, market and local regulatory requirements will now follow along with negotiations regarding commercial terms for a potential final agreement. CR Pharma is also the company with which Xbrane, as per previous communication, is finalizing an out-licensing agreement regarding Spherotide.

Being a non-binding letter of intent, Xbrane has not considered this information of such character that the company needs to communicate in order to fulfil its requirements within MAR regulation. If and when a final agreement has been signed Xbrane will inform the market.

For further information, please contact:
Martin Åmark, CEO, Xbrane Biopharma AB
M: +46 (0) 763-093 777
E: martin.amark@xbrane.com

Susanna Helgesen, CFO/IR, Xbrane Biopharma AB
M: +46 (0) 708-278 636
E: susanna.helgesen@xbrane.com

Om Xbrane
Xbrane is a commercial phase Swedish biopharmaceutical company specialized in biosimilars and long acting injectables. Xbrane has world leading expertise in developing generics for long acting injectable drugs and proprietary high-yield protein expression technology for the development of biosimilars. Xbrane's headquarter is located in Stockholm and the company's in-house research and development facilities are in Sweden and Italy. Xbrane is listed at Nasdaq First North since February 3rd, 2016 under the name XBRANE and Avanza Bank AB is Xbrane's certified advisor. For more information see www.xbrane.com.