Celtic will take an equity stake and provide development funding for Inspiration’s lead candidate.

Celtic Pharmaceutical and Inspiration Biopharmaceuticals are partnering to enhance the development of the latter’s Factor IX for the treatment of Hemophilia B.

Under the terms of the collaboration agreement, valued at up to $35 million, Celtic will take an equity stake in Inspiration as well as provide clinical development expertise and funding. Inspiration’s lead Factor IX product is scheduled to enter Phase I studies in 2008.

Celtic and Inspiration aim to introduce a second-generation product into clinical development in 2009. The anticipate that this compound will offer improved potency and longer duration of action to reduce the frequency of injections in prophylactic use.

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