CytoGam is an intravenous immune globulin enriched in antibodies to protect against cytomegalovirus (CMV). It is used to prevent CMV disease associated with transplantation of the kidney, lung, liver, pancreas and heart.
Under the terms of the agreement, ZLB Behring will make a one-time upfront payment of $50 million to MedImmune, plus equipment and inventory payments. Further, an additional $70 million may be paid to MedImmune by ZLB Behring upon achievement of certain sales milestones.
“CytoGam was the first product commercialized by MedImmune beginning in 1992. It has been an important product for transplant patients as well as for the development of our company. However, CytoGam no longer fits into our core areas of focus,” said David Mott, MedImmune’s president and CEO.
“MedImmune intends to redeploy the proceeds from the sale of CytoGam into areas consistent with our strategic focus on the development of novel, proprietary products for infectious diseases, cancer and inflammatory diseases,” Mr Mott continued.
MedImmune and ZLB Behring expect the transaction to be completed in approximately 30 days, subject to fulfillment of closing conditions, including any necessary governmental approval.