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Baxter buys OBI-1 assets

22.03.2013 - French Ipsen and its insolvent partner Inspiration Biopharmaceuticals Inc announced the closing of the sale of OBI-1 to Baxter International Inc.

The transaction, which strengthens Baxter as global leader in haemophilia, was announced at the end of January. Under the terms of the agreement, Ipsen and Inspiration will sell their rights on OBI-1 together with Ipsen's manufacturing plant in Millford. Recombinant porcine factor VIII under development for the treatment of congenital hemophilia A with inhibitors and acquired haemophilia A, as well as Ipsen's manufacturing facility for OBI-1 in Milford, Massachusetts are in the deal. The Ipsen employees working on the development and manufacturing of OBI-1 will be offered employment by Baxter.   Baxter will pay US$50m upfront, and up to US$135m in milestones as well as net sales payments up to 17.5%. The recombinant porcine factor VIII is currently in a pivotal trial for the treatment of individuals with acquired haemophilia A.

© eurobiotechnews.eu/tg

http://www.european-biotechnology-news.com/news/news/2013-01/baxter-buys-obi-1-assets.html

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