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news.Swedish company Biovitrum and US based Syntonix Pharmaceuticals have entered into a co-development and commercialization agreement for Syntonix' long-acting factor IX hemophilia B treatment, FIX:Fc.
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Syntonix is to be responsible for marketing in North America whilst Biovitrum is responsible for marketing in Europe, Russia and the Middle East. The companies will equally share the costs and profits for development and commercialization of the treatment.
FIX:Fc has an extended half-life which the companies hope will enable effective treatment with less frequent intravenous injections and thereby provide a new, improved therapy for these patients. The companies estimate the total market potential for factor IX products to be in excess of $600 million worldwide, per year.
Under the terms of the agreement, Syntonix will receive milestone payments and an additional equity investment from Biovitrum based on the progress of the program. Additional financial terms were not disclosed.
“We are pleased to develop FIX:Fc with Syntonix because Syntonix’ SynFusion technology has resulted in a very promising, long-acting recombinant factor IX product that has the potential to reduce the frequency of infusions required for hemophilia B patients to manage their disease,” commented Mats Pettersson, CEO of Biovitrum.