Yesterday, Alvotech announced that its parent company, Alvotech Holdings SA, completed a $65 million private placement round, which the company said is part of its $100 million private placement round with a second closing expected shortly.  Alvotech further reported that the $65 million financing resulted in the company issuing new shares to a group of new investors and existing shareholders, and will further finance the development and release of its biosimilar candidates.

Robert Wessman, founder and chairman of Alvotech, stated “I am delighted to welcome such a prestigious group of new investors who all bring significant experience and resources to aid Alvotech in continuing its journey.”