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December 15, 2006

Lipoxen Signs $75M Deal With Baxter

  • Lipoxen and Baxter will together develop improved, longer-acting forms of blood-clotting factors, according to a deal worth up to $75 million. Lipoxen will use its PolyXen® drug delivery technology with Baxter's proteins.

    Under this exclusive, worldwide development and license agreement Lipoxen will receive an initial $1-million payment. In addition the company stands to achieve further clinical and regulatory milestone payments potentially worth up to $75 million, plus royalties on future product sales.

    Lipoxen's PolyXen protein drug delivery technology links therapeutic proteins 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. Coupling PolyXen to therapeutic blood-clotting factors aims to improve the pharmacokinetic profile and extend active life to reduce the frequency of injections required to treat blood-clotting disorders.

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