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.