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January 30, 2014
07:18 EDTBAXBaxter restructures agreement with Xenetic Biosciences
Baxter International announced it has restructured its ongoing agreement with Xenetic Biosciences for the development of BAX 826, a recombinant Factor VIII treatment for hemophilia A under investigation to assess its potential to extend the half-life and duration of effectiveness. This program complements the company’s current development programs, which are focused on improving the pharmacokinetic profile and extending the half-life of blood coagulation factors, including Factor VIII. 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 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. Baxter recently announced the completion of enrollment in a Phase III clinical trial of BAX 855, its investigational, extended half-life, recombinant Factor VIII treatment for hemophilia A. The company continues to expect to file for regulatory approval for BAX 855 in the United States by the end of 2014. The company also said a Phase I/II open-label clinical trial to assess the safety and optimal dosing schedule of BAX 335, an investigational Factor IX gene therapy treatment for hemophilia B, is underway and the first patients have been dosed.
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