Send to printer »

GEN News Highlights : Dec 15, 2006

Lipoxen Signs $75M Deal With Baxter

Agreement couples Lipoxen’s drug deliver technology with Baxter’s therapeutic blood-clotting factors.

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.