Baxter said, in conjunction with Inspiration’s ongoing bankruptcy proceedings, it will also acquire certain other OBI-1 related assets including manufacturing operations from Ipsen Pharma.
Recombinant porcine factor VIII (rpFVIII) OBI-1, which is currently in Phase III clinical studies, is being investigated for the treatment of bleeding in people with acquired hemophilia A and congenital hemophilia A patients with inhibitors.
The transaction is subject to bankruptcy court and regulatory approvals.
Under the terms of the agreement, Baxter will make an upfront payment of $50m for the OBI-1 assets, including the manufacturing operations.
In addition, Baxter will pay in the future up to $20m based on regulatory approval of the acquired hemophilia A indication in the US and first additional country.
Baxter will also pay additional amounts, upon approval of additional indications, through net sales payments, and as sales milestones when sales exceed $100m.
OBI-1 received orphan drug designation in the US and Europe, and was granted fast track designation for acquired hemophilia A by the US Food and Drug Administration (FDA).