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Alvotech Acquires Reykjavik Manufacturing Facility Amid $136m Financing Boost

Icelandic Firm Provides Robert Wessman’s Aztiq Vehicle With $80m Convertible Bond

 
• By Dean Rudge

Months after it become a public company, Alvotech has once again turned to the debt/equity markets to provide financial firepower for its pipeline of biosimilar candidates.

US dollars
Alvotech is adding more cash to its balance sheet • Source: Shutterstock

With R&D and other expenses continuing to mount in its early commercial-stage life, Alvotech has secured an additional $136m in financing at current exchange rates, providing “flexibility and additional resources for advancing the company’s growing biosimilar pipeline.”

Meanwhile, the Icelandic firm has acquired from its major shareholder Aztiq the company’s previously leased manufacturing facility in Reykjavik

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