Teva Pharmaceuticals and mAbxience recently announced a strategic licensing agreement for a biosimiliar candidate that is in development for treating multiple oncology indications.

The licensing agreement covers multiple global markets, including Europe and the U.S., expanding mAbxience’s global expansion strategy. The new partnership also supports Teva’s “Pivot to Growth” strategy that will expand its biosimiliar pipeline through business development and strategic partnerships.

“Teva is pleased to form this strategic alliance with mAbxience, who share our commitment to accelerate the delivery of impactful medicines to patients worldwide,” Teva EVP of Business Development Angus Grant said in a news release. “This collaboration reflects Teva’s ideal strategic partnership model to optimize development costs, mitigate risk and leverage our extensive commercial capabilities.”

Biosimilars have the potential to provide more cost-effective alternatives to existing oncology therapies to address a critical need in global oncology care.

Under terms of the licensing agreement, mAbxience will use its biosimilar development expertise and current Good Manufacturing Practice (cGMP)-approved facilities in Spain and Argentina to develop and produce the biosimilar product. Teva will then lead the regulatory processes and commercialization in the designated regions to ensure broader access.

“Partnering with Teva not only reinforces mAbxience’s position as a global biosimilar company but also aligns with our mission to deliver high-quality, affordable healthcare solutions across continents,” mAbxience Global Commercial Director Jurgen Van Broeck said. “This agreement will assist healthcare systems in reducing costs, ensuring the provision of these vital cancer treatments to all patients who require them.”