Baxter acquires Glassia commercial rights from Kamada
Baxter International has acquired an exclusive commercial rights to Kamada's Glassia [Alpha 1-Proteinase Inhibitor (Human)] in the US, Australia, New Zealand and Canada, under an agreement signed between the companies.
Glassia, which is indicated for chronic augmentation and maintenance therapy in individuals with emphysema due to congenital deficiency of alpha1-proteinase inhibitor (Alpha1-PI), received FDA approval on 1 July 2010,
As per the terms of the agreement Baxter is expected to pay an upfront cash payment of $20m.
Additionally, Baxter may make additional payments of up to $25m related to the achievement of certain commercial milestones and the execution of a technology transfer related to the production of the therapy by Baxter, as well as royalties on product sales.
Under the agreement, Kamada has agreed to not to initiate or enter any discussions or agreements relating to the commercialisation of Glassia in certain other geographies and for Kamada’s investigational inhaled therapy, for a limited period of time.
A seperate license agreement allows Baxter to process Glassia and is expected to seek necessary regulatory approvals to enable it to do so.
Baxter is expected to launch Glassia in the US during the fourth quarter of 2010, and is also expected to pursue distribution licenses for Glassia in the other countries for which it has obtained rights.
Baxter BioScience global biopharmaceuticals president Larry Guiheen said that the agreement with Kamada underscores the company's commitment to expanding the diagnosis of alpha1-antitrypsin deficiency by bringing new therapeutic options to Alpha-1 patients and their treating physicians.
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