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news.AMAG Pharmaceuticals has signed an agreement to acquire US-based private biopharmaceutical firm Perosphere Pharmaceuticals.
AMAG Pharmaceuticals has signed an agreement to acquire US-based private biopharmaceutical firm Perosphere Pharmaceuticals.
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The deal will allow AMAG to acquire global rights of ciraparantag, a next generation anticoagulant reversal agent, from Perosphere.
As per terms of the deal, Perosphere equityholders will secure $50m from AMAG at closing. AMAG will assume $12m under a term loan and up to $6.2m of Perosphere’s other liabilities.
The equityholders of Perosphere are also eligible to secure regulatory milestones of up to $140m, including $40m milestone payment upon approval by the European Medicines Agency (EMA).
In addition, Perosphere equityholders will secure commercial sales milestone payments of up to $225m, including first commercial sales milestone payment of $20m upon achievement of annual net sales of $100m.
Ciraparantag is being studied for patients treated with novel oral anticoagulants (NOACs) or low molecular weight heparin (LMWH).
The company has already secured fast track review for Ciraparantag from the US Food and Drug Administration (FDA), and is provided with patent protection up to 2034.
Ciraparantag is supposed to bind to NOACs such as Xarelto (rivaroxaban), Eliquis (apixaban) and Savaysa (edoxaban) and Lovenox (enoxaparin sodium injection) to reinforce the body’s capacity to form clots.
The company is currently involved in the development of Ciraparantag as a single dose and ready-to-use solution, which can be delivered intravenously in around 10 minutes.
Ciraparantag was given to healthy volunteers after achieving steady blood concentrations of Eliquis, Xarelto, Savaysa and Lovenox in the Phase 2b clinical trials.
According to AMAG, Ciraparantag demonstrated complete and sustained reversal of the anticoagulant effect of each drug studied by normalizing whole blood clotting time (WBCT) in these studies.
Subject to customary closing conditions, the deal is expected to complete in the first quarter of next year.
AMAG Pharmaceuticals president and CEO William Heiden said: “AMAG has been searching for a novel hematology asset to complement our existing portfolio and to leverage the expertise of our high performing Feraheme hematology team.”
