Alvotech Eyes $450m Funding And Public Listing With SPAC Merger

Proposed Combination Would Have Initial Enterprise Value Of Around $2.25bn

Eight years after its inception, pure-play biosimilars company Alvotech has announced plans to list on the NASDAQ via a SPAC merger that will deliver hundreds of millions in cash to fund product development and future growth.

Nasdaq 2021
Alvotech's shares would trade on the Nasdaq • Source: Shutterstock

Alvogen’s biosimilars sister company Alvotech has announced plans to merge with a special purpose acquisition company, in a move that will deliver longstanding plans for a public listing and provide around $450m in gross proceeds to fuel the Icelandic firm’s pipeline of seven biosimilar candidates.

The proposed combination, which is to trade on the NASDAQ under the ticker symbol “ALVO,” is set to have an...

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