Baxter Pays $33M Up Front in Biosimilar Alliance with Momenta
Companies will work to develop up to six compounds.!--h2>
Baxter International is paying Momenta Pharmaceuticals $33 million up front in a deal focused on developing and commercializing biosimilars. Momenta will provide its expertise in high-resolution analytics, characterization, and product and process development.
Baxter will leverage its leading clinical development and biologic manufacturing expertise, global leadership in sterile injectables, and global commercial capabilities. The deal covers up to six follow-on biologics, and Baxter will make milestone related payments.
“As biologics have become an increasingly important part of patient care, the collaboration with Momenta allows us to tap both companies’ expertise to expand access to these important therapies,” says Ludwig Hantson, president of Baxter’s BioScience business. “The collaboration complements Baxter’s early-stage pipeline and allows the company to expand its leadership in biologics at a time when the global regulatory pathway for approval is becoming more clear."
Craig Wheeler, president and CEO of Momenta, says, “Momenta and Baxter share a common goal in this collaboration: To create interchangeable biologic products by taking advantage of Momenta’s innovative physicochemical and biologic characterization capabilities, coupled with a quality-by-design approach to process development."