Coherus Oncology Initiates Sale of Legacy BioSim Assets
News related to:Coherus Oncology · 3 min read
REDWOOD CITY, Calif., Sept. 23, 2026 /CourierPR/ -- Coherus Oncology, a fully integrated commercial-stage innovative oncology company, has initiated the process to market and sell the remaining assets associated with its former biosimilars business, known as the "Legacy BioSim Assets." The company has retained Oppenheimer & Co. Inc. to serve as its financial advisor in this endeavor.
According to a press release, Coherus Oncology announced the sale process on the same day it declared a special dividend of contingent value rights (CVRs) on August 17, 2026. The CVRs will be distributed pro rata to stockholders of record of the company’s common stock as of September 30, 2026 (the “Record Date”), with the distribution occurring on October 7, 2026. CVR holders are entitled to receive their pro rata share of any net cash proceeds, and the net cash value of any other consideration, actually received by the company from third parties in connection with the sale of the Legacy BioSim Assets or as licensing fees under any licensing agreement covering the Legacy BioSim Assets.
The Legacy BioSim Assets include patents and other intellectual property, royalties under an existing license agreement, cell lines, and related materials, including laboratory notebooks, regulatory filings, and product samples. Interested parties should direct inquiries to the Oppenheimer contacts listed below.
The press release also noted that Coherus Oncology is a fully integrated commercial-stage innovative oncology company with an approved next-generation programmed death receptor-1 (PD-1) inhibitor, LOQTORZI® (toripalimab-tpzi), and a pipeline that includes two mid-stage clinical candidates targeting liver, prostate, head & neck, colorectal, and other cancers. The company’s strategy is to grow sales of LOQTORZI in R/M Nasopharyngeal Carcinoma while advancing the development of its two pipeline candidates in combination with LOQTORZI, and additionally through strategic partnerships.
The company’s innovative oncology pipeline includes multiple antibody immunotherapy candidates focused on enhancing the innate and adaptive immune responses to enable a robust antitumor response and enhance outcomes for patients with cancer. Tagmokitug is a highly selective cytolytic anti-CCR8 antibody currently in Phase 1b/2a studies in patients with advanced solid tumors, including head and neck squamous cell carcinoma, colorectal cancer, gastric, gastro-esophageal-junction, esophageal adenocarcinoma, and esophageal squamous cell carcinoma. Casdozokitug is a novel IL-27 antagonistic antibody currently being evaluated in a Phase 2 study in patients with first-line hepatocellular carcinoma.
The press release further stated that the terms of the CVRs are set forth in, and the CVRs are governed by, the Contingent Value Rights Agreement by and between the company and Equiniti Trust Company, LLC, as rights agent (the “CVR Agreement”). The company’s stockholders are also encouraged to review the FAQ concerning the CVRs. The CVR Agreement and the FAQ were included as exhibits to the Form 10-K that the company filed with the SEC on August 17, 2026, and are available on the Investors & Media, Shareholder Services section of the company’s website.
The company’s strategy includes executing ex-U.S. licensing deals as the clinical data supports such transactions. The press release also mentioned that the terms of the CVRs are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the anticipated distribution of the CVRs, the expected record date and distribution date, the proposed process to market and sell the Legacy BioSim Assets, the timing and outcome of that process, and the value, timing, and amount, if any, of proceeds that may become distributable to CVR holders.