Baxter International has agreed to acquire the investigational hemophilia compound OBI-1 and related assets from Inspiration BioPharmaceuticals, in conjunction with Inspiration’s ongoing bankruptcy proceedings. The transaction, which includes manufacturing operations from Ipsen Pharma, is subject to regulatory approvals.
Baxter will make an upfront payment of $50 million and may make payments of as much as $20 million based on regulatory approval in the U.S. and its first additional country. Additional amounts may be paid upon approval of additional indications, sales payments and milestones when sales exceed $100 million.
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. OBI-1 is currently in Phase III studies and has received orphan drug designation in the U.S. and Europe, and was recently granted fast track designation by the FDA.
“OBI-1 has the potential to address existing unmet needs of hemophilia patients and is a strong strategic fit with Baxter’s current hemophilia portfolio,” said Bruce Ewenstein, M.D., Ph.D., vice president of clinical affairs in Baxter’s BioScience business.