Baxter Announces Agreement to Acquire Investigational Hemophilia Compound OBI-1 and Related Assets
DEERFIELD, Ill.--(BUSINESS WIRE)--
Baxter International Inc. (NYSE:BAX) announced today that it has agreed
to acquire the investigational hemophilia compound OBI-1 and related
assets from Inspiration BioPharmaceuticals, Inc. as well as certain
other OBI-1 related assets, including manufacturing operations, from
Ipsen Pharma S.A.S. in conjunction with Inspirations ongoing bankruptcy
proceedings. The transaction is subject to bankruptcy court and
OBI-1 is a recombinant porcine factor VIII (rpFVIII) being investigated
for the treatment of bleeding in people with acquired hemophilia A and
congenital hemophilia A patients with inhibitors. Acquired hemophilia A
is a rare, potentially life-threatening bleeding disorder, which, unlike
congenital hemophilia, typically affects older adults and occurs equally
in both males and females.
''OBI-1 has the potential to address existing unmet needs of hemophilia
patients and is a strong strategic fit with Baxters current hemophilia
portfolio,'' said Bruce Ewenstein, M.D., Ph.D., vice president of
clinical affairs in Baxters BioScience business.
Under the terms of the agreement, Baxter will make an upfront payment of
$50 million for the OBI-1 assets, including the manufacturing
operations. In the future, Baxter may make payments of up to $20 million
in total based on regulatory approval of the acquired hemophilia A
indication in the United States and first additional country. Additional
amounts may be paid upon approval of additional indications, through net
sales payments, and as sales milestones when sales exceed $100 million.
OBI-1 is currently in Phase III clinical studies in individuals with
acquired hemophilia A and those with congenital hemophilia A who have
developed inhibitors against human FVIII. OBI-1 received orphan drug
designation in the United States and Europe, and was recently granted
fast track designation for acquired hemophilia A by the United States
Food and Drug Administration (FDA).
Acquired hemophilia A is a very rare (estimated annual incidence of 1.5
cases per million lives) and potentially life-threatening acute bleeding
disorder caused by the development of autoantibodies (inhibitors)
against coagulation FVIII. In acquired hemophilia A, individuals
typically experience soft tissue or post-procedural bleeding, in
contrast to bleeding into joints, which is more typical in congenital
Baxter has more than 60 years experience in hemophilia and has
introduced a number of therapeutic firsts for hemophilia patients.
Baxter has the broadest portfolio of hemophilia treatments in the
industry and is able to meet individual therapy choices, providing a
range of options at each treatment stage. The companys work is focused
on optimizing hemophilia care and improving the lives of people living
with hemophilia A and B worldwide.
Baxter International Inc., through its subsidiaries, develops,
manufactures and markets products that save and sustain the lives of
people with hemophilia, immune disorders, cancer, infectious diseases,
kidney disease, trauma and other chronic and acute medical conditions.
As a global, diversified healthcare company, Baxter applies a unique
combination of expertise in medical devices, pharmaceuticals and
biotechnology to create products that advance patient care worldwide.
Baxter International Inc.Brian Kyhos,
(224) 948-4210Deborah Spak, (224) 948-2349orMary Kay Ladone, (224) 948-3371Clare Trachtman,
Source: Baxter International Inc.