Samsung Bioepis mulls NASDAQ IPO to raise cash for biosimilars

30-Jun-2015 - Last updated on 01-Jul-2015 at 11:36 GMT

Samsung Bioepis mulls NASDAQ listing

Related tags Initial public offering

Samsung Bioepis is considering an IPO on the NASDAQ Stock Exchange to raise cash to fund the development of biosimilar products.

Spokesperson Jamyung Cha told BioPharma-Reporter.com the South Korean firm – a joint venture between Samsung Biologics and Biogen Idec – was considering joining the US exchange to further develop its pipeline of biosimilar candidates.

The news of the potential initial public offering (IPO) comes weeks after the firm and US partner Merck & Co announced that biosimilar versions of Enbrel (etanercept) and Remicade (infliximab) they are developing had met primary endpoints in two Phase III studies.

The findings, which were announced at the European League Against Rheumatism Annual Congress in Rome (EULAR), showed that the biosimilars – SB4 and SB2 – were equivalent to the originator products, according to CEO Christopher Hansung Ko.

"We are excited by the positive results from these three equivalence studies, including the Phase III data for SB4 and SB2. The results presented at EULAR are part of the robust data packages intended to support the global regulatory filings for each."

More to follow...