Xbrane Biopharma, a Stockholm, Sweden-headquartered biopharmaceutical company, has signed a non-binding letter of intent with CR Pharma, a Beijing, China-headquartered pharmaceutical company, regarding licensing Xlucane (ranibizumab), a biosimilar of Roche’s Lucentis (ranibizumab), a drug for treating macular degeneration. Lucentis had 2016 sales of $1.835 billion.

Xbrane and CR Pharma have the common intention to take Xbrane’s Xlucane to the Chinese market. A non-binding letter of intent has been signed, but no conditions have yet been agreed. A detailed evaluation of product, market, and local regulations will follow along with negotiation of commercial terms for a potential final agreement.

Xbrane says it is also in the final stages of signing an outsourcing agreement with CR Pharma for Spherotide, a generic version of Decapeptyl (triptorelin), for treating prostate cancer.

If and when a final agreement has been signed, Xbrane will inform the market, according to the company.

Source: Xbrane Biopharma