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news.Baxter International has entered into a definitive agreement to acquire all of the hemophilia-related assets of a biopharmaceutical company, Archemix, and also entered into an exclusive license agreement for certain related intellectual property assets.
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The lead product associated with the arrangement is ARC19499, a synthetic, subcutaneously-administered hemophilia therapy currently in a Phase I clinical trial in the UK.
Baxter said that ARC19499 blocks Tissue Factor Pathway Inhibitor (TFPI) activity, thereby augmenting and improving blood clotting, potentially reducing replacement factor therapy for patients with hemophilia A and B.
Baxter expects to record a special pre-tax in-process research and development charge of approximately $30m in the fourth quarter of 2010 relating to an upfront payment associated with the transaction, however, in the future, Baxter may also make milestone-related payments to Archemix of up to $285m.
Subject to regulatory approvals and other conditions, the companies expect to complete the transaction by year-end.
Baxter BioScience business Global Research and Development and Medical affairs vice president Hartmut Ehrlich said that this anti-TFPI program is an important addition to other Baxter hemophilia development programs focusing on longer-acting rFVIII and rFIX and non-intravenous therapies.