PHARMA/BIOTECH UPDATE: Baxter Announces Restructured Agreement with Xenetic
January 31st, 2014; Posted by: WeBleed staff
Baxter International, Inc. announced yesterday that its ongoing agreement with Xenetic Biosciences, Inc would be restructured for the development of BAX 826, a recombinant Factor VIII treatment for hemophilia A.
“Through our Xenetic partnership, we are seeking to identify and develop a treatment that the majority of hemophilia patients could administer less frequently, potentially at once-weekly intervals, without compromising efficacy,” said Brian Goff, head of Baxter’s global hemophilia organization. “We are focusing our efforts on using a range of technologies to introduce new therapies and enhancements to existing therapies, each designed to improve the patient experience as we pursue our vision of a bleed-free world.”
More from the press release:
Xenetic and Baxter previously established an exclusive worldwide agreement to develop novel forms of polysialylated blood coagulation factors, including Factor VIII, using Xenetic’s proprietary polysialic acid (PSA) technology. Under the terms of the restructured arrangement, Baxter will make an equity investment in the common stock of Xenetic and has agreed to make contingent milestone payments as well as pay royalties on future sales.
Read the entire release here.
Image credit: Baxter International, Inc.
