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Lipoxen Announces $75M Agreement with Baxter to Develop New Blood Clotting Factors

18 Dec 2006 - Lipoxen PLC announced that the company has entered into an exclusive worldwide development and licence agreement with a subsidiary of Baxter International Inc. to develop improved, longer-acting forms of blood-clotting factors. The signing of this agreement by Baxter triggers a $1 million payment to Lipoxen, and the agreement includes further clinical and regulatory milestone payments to Lipoxen potentially worth up to a total of $75 million, plus royalties on future product sales.
 
Lipoxen's PolyXen(r) protein drug delivery technology links therapeutic proteins, or peptides, to the naturally occurring polymer polysialic acid to prolong protein stability and biological half-life, and to improve solubility and immunological characteristics while maintaining biological activity and minimizing toxicity. Conjugating PolyXen(r) to therapeutic blood-clotting factors aims to improve pharmacokinetic profile and extend active life in order to reduce the frequency of injections required to treat blood-clotting disorders such as haemophilia A.