Xbrane has confirmed an additional order of Spherotide from Pooyesh Darou, its partner in the Middle East, to a value of SEK 8.5 million to be delivered in Q4 2017. With this delivery Xbrane will meet its expected sales during 2017 of approximately SEK 20 million, as earlier communicated.
Spherotide was launched in Iran in July 2017 under the local brand name Microrelin ® and since then more than 10,000 doses have been sold.
Martin Åmark, CEO of Xbrane comments: "We are pleased to see that the sales of Spherotide locally in Iran is ramping up so quickly and that the product has received a positive response. We are happy to meet our expected sales during 2017 and we are looking forward to further increasing them during 2018."
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. Xbrane's headquarter is located in Solna outside of Stockholm and the company's in-house research and development facilities are located in Sweden and Italy. Xbrane is listed at Nasdaq First North since February 3 rd , 2016 under the name Xbrane and Avanza Bank AB is Xbrane's certified adviser. For more information see www.xbrane.com .
For further information, please contact:
M: +46 (0) 763-093 777
CFO/IR, Xbrane Biopharma AB
M: +46 (0) 708-278 636
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 8:00 September 11, 2017.