Baxter International Inc. (NYSE: BAX) has entered into a definitive agreement to acquire all of the hemophilia-related assets of a privately-held biopharmaceutical company, Archemix, and entered into an exclusive license agreement for certain related intellectual property assets.
The lead product associated with the arrangement is ARC19499, a synthetic, subcutaneously-administered hemophilia therapy currently in a Phase I clinical trial in the UK. ARC19499 blocks Tissue Factor Pathway Inhibitor (TFPI) activity, thereby augmenting and improving blood clotting, potentially reducing replacement factor therapy for patients with hemophilia A and B.
Hemophilia is a family of rare bleeding disorders that impairs the body’s ability to control the normal blood clotting process. There is currently no cure for hemophilia, which affects over 400,000 people globally. Drugs for treating the disease and its symptoms generate approximately $5 billion in annual sales. As a long-time leader in the field of therapies for hemophilia, Baxter is extremely well-positioned to bring the Archemix program through development and to patients.
“Baxter is committed to optimizing hemophilia care and improving the lives of people living with hemophilia around the world,” said Hartmut Ehrlich, M.D., vice president, global research and development and medical affairs, for Baxter’s BioScience business. “This anti-TFPI program is an important addition to other Baxter hemophilia development programs focusing on longer-acting rFVIII and rFIX and non-intravenous therapies.”
Lumira Capital partners Beni Rovinski and Brian Underdown in Toronto led our initial due diligence and investment in Archemix and our Cambridge-based partner Gerry Brunk has been an observer on the Archemix board of directors.
