Item 8.01 Other Events.
On January 9, 2023, Coherus BioSciences, Inc. (the "Company") announced that the
Company entered into a binding term sheet (the "Term Sheet") with Klinge
Biopharma GmbH ("Klinge Biopharma") for the exclusive commercialization rights
to FYB203, a biosimilar candidate to Eylea® (aflibercept), in the United States.
The parties to the Term Sheet expect to execute the definitive agreements
contemplated by the Term Sheet (the "Definitive Agreements") and complete the
transaction in the first quarter of 2023. Under the Term Sheet, the Company will
make a total upfront payment of approximately €30 million, comprised of cash and
the Company's common stock, thirty days after the execution of the Definitive
Agreements. The Company has also agreed to make other regulatory and launch
milestone payments and to make royalty payments based on approximately equal
sharing of profits from the sale of FYB203 in consideration for the
commercialization rights to FYB203 in the United States.
The material terms of the transaction will be set forth in the Definitive
Agreements, which will be included in a subsequent filing when such Definitive
Agreements are executed.
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