Mabwell (688062.SH, 02493.HK), an innovation-driven biopharmaceutical company with a fully integrated industry chain, announced that it has established a licensing and commercialization agreement with SVAX Inc., a Saudi Arabian biopharmaceutical company, for its product Aflibercept Biosimilar. Under the agreement, the parties will engage in in-depth collaboration on the registration, manufacturing, and commercialization of the product in the Gulf Cooperation Council (GCC) countries.

The GCC countries are not only the core engine of the Middle East economy, but also important partners in the Belt and Road Initiative. The pharmaceutical market in the region is in a period of rapid growth. According to the analysis of BioNixus, the compound annual growth rate of the pharmaceutical market in the GCC countries is expected to be approximately 7.6% from 2024 to 2033. Saudi Arabia, the country with the largest pharmaceutical market in the region, is fully advancing its national biotechnology strategy under “Vision 2030 ”, biopharmaceutical is listed as the key development area.

Mr. HU Huiguo (right), SVP of Mabwell, Prof. Mazen Hassanain (left), Managing Director of SVAX

Mr. HU Huiguo, Senior Vice President of Mabwell, said, “We are so pleased to enter into the strategic partnership with SVAX. This is another important milestone in Mabwell’s global layout. The collaboration will focus on Saudi Arabia and radiate other countries in the region to advance the registration, manufacturing, and commercialization of the product. Saudi Arabia’s Vision 2030 is driving local enterprises to further embrace international cooperation, and also brings opportunities for Mabwell’s expansion in the Middle East. Based on SVAX’s mature market network and rich experience in registration and local manufacturing in the region, we believe that the collaboration will enable more patients in the GCC countries to benefit from high-quality Chinese biologics.”

Professor Mazen Hassanain, the Managing Director of SVAX stated “This agreement with Mabwell is a meaningful step forward in SVAX's strategy to localize the manufacturing of critical biologics within the Kingdom and the wider GCC region. Establishing local production of Aflibercept directly supports the objectives of Saudi Arabia's Vision 2030 and the National Biotechnology Strategy, reducing reliance on imports and strengthening the region's long-term biopharmaceutical self-sufficiency. By combining Mabwell's technology and manufacturing expertise with SVAX's local regulatory, manufacturing, and commercial infrastructure, we are building the foundation for a resilient, investment-ready biotech ecosystem in the region. We look forward to working closely with Mabwell to bring this partnership to fruition."

About SVAX

SVAX, a biopharmaceutical company based in Saudi Arabia, is transforming healthcare through the innovation, research, development, commercialization, and manufacturing of cutting-edge biologics. As a pioneer in the local biotech industry, SVAX is shaping a thriving biotech ecosystem. With state-of-the art facilities, SVAX provides high-quality biological products to local patients, addressing unmet medical needs with precision and care.