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Kamada CEO says agreement with Baxter on Alpha-1 augmentation product will help make company profitable
Globes
“We’re very pleased by the collaboration, and we think that this deal will be good for all the parties, most of all for the patients,” Kamada Ltd. CEO David Tsur told the Israeli business journal Globes after signing a strategic agreement with Baxter International.
Kamada is a biotherapeutics development company based in Israel.
The agreement is for collaboration in the production and marketing of Kamada’s Glassia IV augmentation therapy for Alpha-1 Antitrypsin Deficiency.
Kamada will receive up to $45 million in milestone payments, including $20 million up front. Baxter has also undertaken to buy a minimum of $60 million worth of Glassia, although Kamada expects much greater purchases. Baxter will pay Kamada at least $5 million a year in royalties. Baxter will have exclusive commercial rights to Glassia in the US, Australia, New Zealand and Canada.
“This agreement could generate for us hundreds of millions of dollars in revenue. The agreement will also help the company become profitable, although I don’t want to say at what hour on what day that will happen,” Tsur told Globes.
