Xbrane Biopharma has delivered its first batch of Spherotide to its partner in the Middle East to a value of 7 MSEK. Xbrane expects shipment of at least two additional batches of similar size to its partner in the Middle East during 2017.
"We are excited to sell the first batch of Spherotide to our partner in the Middle East. We are working closely with our partner ahead of local launch of the product and we are very excited to see how the product is received in the local market." says Martin Åmark, Xbranes CEO.
Spherotide is a depot formulation drug with the active substance triptorelin and is used primarily in the treatment of prostate cancer, endometriosis and uterine fibroids. The drug is based on encapsulation of the active ingredient in biodegradable microspheres that degrade in the body after injection and create a long acting effect.
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. Xbranes'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 seewww.xbrane.com.
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Source: Xbrane Biopharma AB via Globenewswire