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Xbrane Biopharma AB: Xbrane Biopharma signs agreement with BioAvenir for sales and marketing of Spherotide in Israel

Press release


Xbrane Biopharma has signed a distribution agreement with BioAvenir for sales
and marketing of Spherotide on the Israeli market. Xbrane estimates, based on
expected price and penetration, that Spherotide has a sales potential of
approximately SEK 5 million annually in Israel. Xbrane and BioAvenir will
share the profits from sales of Spheritode in Israel and Xbrane will receive
a license fee of SEK 1 million divided in upfront and milestone payments
until the product is launched. Spherotide will, for the Israeli market, be
produced in Xbrane's production facility in Italy for resale to BioAvenir.
Expected launch of Spherotide in Israel is 2020 after market authorization
has been granted by Israels Ministry of Health on the basis of an EU approved

"We are convinced that BioAvenir, with its strong experience in sales of
hospital pharmaceuticals, is the right partner for sales and marketing of
Spherotide in Israel", says Martin Åmark, Xbranes CEO.

"We are excited to bring Spherotide to the Israeli market. We have through the
due diligence process gained strong confidence in the technical capabilities
of the Xbrane team and we look very much forward to future broader
collaboration around the upcoming products in Xbranes product portfolio",
says Misha Maran, Director, BioAvenir.

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.

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.
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 under the name XBRANE and Avanza
Bank AB is Xbranes certified advisor. For more information see

For further information, please contact:

Martin Åmark
Chief Executive Officer
M: +46 (0) 763-093 777

About BioAvenir

BioAvenir is a family owned pharmaceutical company specializing in licensing,
registering and commercializing pharmaceuticals and special products in
Israel both to the private and institutional market.
BioAvenir is a well established pharmaceutical company in Israel with an
annual revenue of approximately SEK 100 million with a product portfolio
focused on oncology, ophthalmology, pain management and antibiotics.
For more information see

For further information, please contact:

Misha Maran
M: +972 54 43 33 541

This information is information that Xbrane Biopharma AB (publ) is obliged to
make public pursuant to the EU Market Abuse Regulation. The information was
submitted for publication, through the agency of the contact person set out
above, at 08:00 21 December 2016.

Press release Xbrane Biopharma signs agreement with BioAvenir

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Xbrane Biopharma AB via Globenewswire

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