Date: 2014-09-29
Type of information: Collaboration agreement
Compound: Glassia® (liquid form of human Alpha-1 Antitrypsin (AAT) administered intravenously)
Company: Kamada (Israel) Baxter (USA - IL)
Therapeutic area: Genetic diseases - Respiratory diseases
Type agreement: collaboration
Action mechanism: Glassia® is the first available ready-to-infuse liquid alpha1-proteinase inhibitor and is indicated as a chronic augmentation and maintenance therapy in adults with clinically evident emphysema due to severe congenital AAT deficiency. Glassia is administered intravenously once a week to augment the levels of AAT in the blood. AAT is a protein derived from human plasma with known and newly discovered therapeutic roles given its immunomodulatory, anti-inflammatory, tissue protective and antimicrobial properties. Glassia is approved by the FDA and is marketed through a strategic partnership with Baxter International in the United States.
Disease: chronic augmentation and maintenance therapy in adults with emphysema due to congenital deficiency of alpha1-proteinase inhibitor (Alpha1-PI), also known as alpha1- antitrypsin deficiency
Details: * On September 29, 2014, Kamada, a plasma-derived protein therapeutics company focused on orphan indications, announced the second extension to supply Glassia® to Baxter in its strategic agreement with the biopharmaceutical business of Baxter International Inc. Through the extended agreement, the supply of Glassia® to Baxter has been extended through 2017 and the transition to royalty payments for Glassia® produced by Baxter is not expected to begin before 2018. Until that time, Kamada will continue to produce Glassia® for distribution by Baxter. In 2010, Kamada and Baxter entered into an exclusive strategic cooperation agreement for the distribution and license of Glassia. Under the agreement, Baxter is the exclusive distributor of Glassia® in the U.S., Canada, Australia and New Zealand, and is licensed to produce Glassia® using Kamada’s technology at a Baxter facility for sales in those countries.
Financial terms: Through the extended agreement, Kamada secured $26 million in additional revenues of Glassia, the Company’s proprietary, ready-to-infuse liquid alpha-1 antitrypsin (AAT) treatment that is indicated as a chronic augmentation and maintenance therapy in adults with clinically evident emphysema due to severe congenital AAT deficiency, through 2017. As a result, Kamada expects that total revenue generated through this agreement from October 2010 through end of 2017 will increase to a minimum of $191 million compared with a minimum of $110 million contained in the original agreement executed in 2010 and a minimum of $165 million contained in the May 2013 extension.
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