Xbrane Biopharma was riding the crest of a wave with the EU launch of its biosimilar to Lucentis, following years of toil and investment. However, plans to roll out the product in the US will have to be pushed back – likely – into the middle of 2025, following a US FDA complete response letter.

“We are extremely well aware of the consequences for investors that cannot protect their ownership share in this transaction,” Xbrane has told its investors, as the Swedish firm looks to tie up much-needed capital injection via a right issue to fuel its pipeline of biosimilar projects.

UK liquids specialist Rosemont Pharmaceuticals has appointed a new chief corporate development officer to drive M&A. Meanwhile, EuroAPI has named a chief transformation officer, Zentiva’s CEO has joined Medicines for Europe’s executive committee, Hikma has changed company secretary, and Xbrane has made alterations to its nominations committee.

Swedish biosimilars developer Xbrane Biopharma has revealed that it is dropping development of its planned Xtrudane pembrolizumab biosimilar to Keytruda, as part of a move towards a more “focused development portfolio.” At the same time, the firm has announced job cuts as part of a new cost-savings scheme designed to help the firm “achieve a positive cash flow as soon as possible.”