Samsung Bioepis Co. Ltd. said the company will partner with Hong Kong-listed 3SBio Inc. to develop and commercialize multiple of its biosimilar drugs in China.
Samsung Bioepis has not yet released any drug in China. The two companies will work together in clinical trials, regulatory registration, commercialization and other areas in China for Samsung Bioepis' drugs including cancer therapy SB8, a biosimilar of bevacizumab, also known as Avastin.
SB8 will focus on metastatic colon cancer and non-small cell lung cancer indications in China.
According to the Jan. 6 news release, Samsung Bioepis will manufacture and supply the drugs. It will receive an up-front payment, royalties on sales and milestone payments from the cooperation.
Further financial terms of the collaboration agreement were not disclosed.
Samsung Bioepis is a joint venture established by Samsung Biologics Co. Ltd. and U.S.-based Biogen Inc. in 2012. 3SBio has more than 30 products under development, targeting oncology, auto-immune diseases and other illnesses.
Separately, South Korean biotech company Celltrion Inc. said it will build a joint venture in China in 2019.