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Coherus BioSciences Announces Divestiture of YUSIMRY (adalimumab-aqvh) in a $40 Million Upfront All Cash Transaction
– Transaction aligns with Coherus’ strategic focus on oncology – REDWOOD CITY, Calif., June 27, 2024 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (Coherus,
About this update from Coherus Oncology, Inc.
[{"type":"text","content":"– Transaction aligns with Coherus’ strategic focus on oncology –\nREDWOOD CITY, Calif., June 27, 2024 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (Coherus, Nasdaq: CHRS) today announced it agreed to divest YUSIMRY (adalimumab-aqvh) to Hong Kong King-Friend Industrial Co. Ltd. (HKF) for up-front all-cash consideration of $40 million. The closing of the transaction occurred on June 26, 2024. Meitheal Pharmaceuticals, Inc. (Meitheal), a wholly owned subsidiary of HKF, will continue to commercialize YUSIMRY in the U.S. “With the divesture of YUSIMRY, Coherus reinforces its strategic focus on oncology,” said Denny Lanfear, Coherus Chairman and Chief Executive Officer. “The proceeds from the sale of YUSIMRY will bolster our cash position, advance our efforts to become a sustainable and growing oncology company and efficiently allocate our resources for maximum value creation.” Coherus’ oncology assets include LOQTORZI® (toripalimab-tpzi), an FDA-approved, next-generation PD-1 inhibitor, the UDENYCA® (pegfilgrastim-cbqv) franchise, with three FDA-approved presentations; and an innovative clinical-stage, immuno-oncology portfolio focused on the tumor microenvironment. Latham & Watkins LLP provided Coherus with legal counsel regarding the transaction. About Coherus BioSciences Coherus is a commercial-stage biopharmaceutical company focused on the research, development and commercialization of innovative immunotherapies to treat cancer. Coherus is developing an innovative immuno-oncology pipeline that is expected to be synergistic with its proven commercial capabilities in oncology. Coherus’ immuno-oncology pipeline includes multiple antibody immunotherapy candidates focused on enhancing the innate and adaptive immune responses to enable a robust antitumor immunologic response and enhance outcomes for patients with cancer. Casdozokitug is a novel IL-27 antagonistic antibody currently being evaluated in two ongoing clinical studies: a Phase 1/2 study in advanced solid tumors and a Phase 2 study in hepatocellular carcinoma. CHS-114 is a highly selective, competitively positioned, cytolytic anti-CCR8 antibody currently in a Phase 1 study in patients with advanced solid tumors. CHS-1000 is a preclinical candidate targeting immune-suppressive mechanisms via the novel pathway ILT4. Coherus markets LOQTORZI® (toripalimab-tpzi), a novel next-ge...