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Private Financing Round Values Alvotech At $1.5bn

Icelandic Firm Plans To Raise $100m

 
• By Dean Rudge

Having previously announced plans for a public listing, biosimilars company Alvotech has raised tens of millions of dollars though a private placement of new shares, providing further firepower to develop its vast portfolio of candidates.

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The first round of the private placement raised $65m in gross proceeds • Source: Shutterstock

Alvotech , the biosimilars-focused sister company of Icelandic firm Alvogen, has raised $65m through a non-public offering of new shares to new and existing shareholders, in a transaction that values the firm at $1.5bn.

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