Sweden’s Xbrane Biopharma has delivered updates for two of its more long-term projects, including a proposed biosimilar to Bristol Myers Squibb’s Opdivo for which it is actively seeking a partner.

The venture capital firm announced a $3.6bn raise for Fund VIII and side funds, which it plans to invest across human health, AI and sustainability-focused companies.

Xbrane plans to refile its proposed biosimilar to Lucentis by the end of 2024, after the recent disappointment of a US FDA complete response letter. However, the goal requires its manufacturing partners to successfully execute remediation plans.

The CEO of Xbrane Biopharma, a Swedish firm focused solely on biosimilar development using a partnered model to potentially take its biosimilars across the globe, speaks exclusively to Generics Bulletin about its ambitions and challenges, including the recent setback for its proposed Lucentis biosimilar in the US.