Xbrane Biopharma Signs Agreement With BL&H for Sales and Marketing of Spherotide in South Korea

Xbrane Biopharma has signed a distribution agreement with BL&H for sales and marketing of Spherotide in South Korea. Xbrane will receive mid-single digit SEK million license fee for the exclusive rights to Spherotide in South Korea and Xbrane and BL&H will share the profits from sales. Timing of launch is expected to earliest 2019.  

Martin Åmark, CEO, comments: "We are convinced that BL&H, with its strong position and experience in sales of hospital products, is the right partner for sales and marketing of Spherotide in South Korea".

DC Roh, president of BL&H comments: "We are very excited to bring Spherotide to the Korean market. Spherotide represents a unique commercial opportunity for our company and we expect it will be an important product for our company for many years to come."

Spherotide is a generic version of long acting triptorelin and is used primarily in the treatment of prostate cancer, endometriosis, breast cancer and uterine fibroids. Triptorelin in its different strengths had sales of USD 12 Million in South Korea during 2016.

About 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 adviser.