Baxter International (BAX) recently signed a definitive agreement to purchase hemophilia-related assets from privately held biopharmaceutical firm, Archemix. In addition, the companies have established an exclusive license agreement for select intellectual properties.
Hemophilia is a rarely occuring genetic clotting disorder that mainly affects men. Patients suffering from hemophilia do not have enough of, or lack, one of the blood clotting proteins normally found in blood.
The primary product covered under the arrangement is ARC19499, which is an artificial, subcutaneously delivered hemophilia therapy presently under Phase I clinical trial in the U.K. ARC19499 prevents Tissue Factor Pathway Inhibitor (“TFPI”) action, and hence it supports and enhances blood clotting.
This is expected to cut down replacement factor therapy for patients with hemophilia A and B. Baxter believes that this anti-TFPI program is a vital addition to its existing hemophilia development efforts focusing on longer-acting rFVIII, rFIX and non-intravenous therapies.
The companies expect to complete the deal by end of 2010, subject to regulatory approvals and various conditions. Baxter anticipates recording a special pre-tax in-process R&D charge of about $30 million in the fourth quarter. Subsequently, Baxter expects to make milestone-related payments of up to $285 million to Archemix.
ARC19499 is a portion of a new therapeutic class known as aptamers. These are smaller than a protein and such molecules may be developed for subcutaneous delivery. A phase I clinical trial for this substance was started by Archemix, in the U.K., last August, and it continues to enlist patients. There is one aptamer approved by the Food & Drug Administration currently in the U.S. and it is available for users.
Deerfield, Illinois-based Baxter International is a global medical products and services company with expertise in medical devices, pharmaceuticals, and biotechnology. Baxter presently operates through three business segments: BioScience, Medication Delivery and Renal. It competes with Talecris Biotherapeutics Holdings Corp. (TLCR) among others.
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