Corporate Banner
Satellite Banner
Technology
Networks
Scientific Communities
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Cangene Announces Agreement to Acquire Late Stage Hemophilia B Product

Published: Thursday, February 07, 2013
Last Updated: Thursday, February 07, 2013
Bookmark and Share
Cangene will pay approximately $5.9 million upfront for IB1001.

Cangene Corporation (Cangene) has announced that it has entered into an agreement to acquire investigational hemophilia compound IB1001 and certain other assets from Ipsen and Inspiration Biopharmaceuticals, Inc. in connection with Inspiration's bankruptcy proceedings.

The transaction is expected to close on or about February 15, 2013 and is subject to bankruptcy court approval and customary closing conditions.

IB1001 is an intravenous recombinant Factor IX (rFIX) being developed for the treatment and prevention of bleeding episodes in people with hemophilia B.

Hemophilia B is caused by a congenital FIX deficiency, leading to poor coagulation of the blood and potentially life-threatening hemorrhages.

The IB1001 development program includes a comprehensive set of pharmacokinetic, safety, and efficacy data from a Phase 3 clinical trial in people affected by hemophilia B, including a surgery sub-study.

A biologics license application (BLA) and a Marketing Authorization Application (MAA) for IB1001 are under review by the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA), respectively.

Based on recent communications with the FDA, a clear path to approval has been defined. Review of the MAA by the EMA is continuing through the regulatory review process.

John A. Sedor, President and Chief Executive Officer of Cangene says "The acquisition of IB1001 is consistent with our strategy of targeting late stage products to drive growth in our commercial business."

Mr. Sedor adds "We are a patient-focused Company and the addition of IB1001 to our pipeline provides an opportunity to address a significant global need for patients with hemophilia B. We will use our significant experience in developing and commercializing biological products to resolve the regulatory challenges and bring value to hemophilia B patients and to Cangene."

Under the terms of the agreement, Cangene will pay approximately $5.9 million upfront for IB1001 and other acquired assets, as well as tiered royalties on net sales and additional payments if certain sales milestones are achieved.

"The acquisition of IB1001 represents an opportunity to add a fifth product to our commercial portfolio, and once regulatory approval is received, will further leverage our North American sales team" says Michael Adelman, Vice President, Commercial Operations.

"IB1001 will support our ongoing efforts to enhance value to our customers and will benefit from our experience in the hematology community. Additionally, IB1001 provides a potential revenue stream from international partnerships directed at expanding hemophilia B treatment programs worldwide" adds Mr. Adelman.

Oppenheimer & Co. acted as exclusive financial advisor, and Reed Smith acted as legal advisor, to Cangene on the transaction.


Further Information
Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,500+ scientific posters on ePosters
  • More Than 3,700+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Cangene to be Acquired by Emergent BioSolutions for US$222 Million
Cangene shareholders to receive US$3.24 per share (C$3.44 per share) in cash.
Friday, December 13, 2013
Cangene Announces Extension of VIGIV Biodefence Contract with U.S. Government
Contract with CDC for the supply of VIGIV extended by 18 months.
Friday, September 27, 2013
Cangene Advances Alzheimer's Disease Research with Technology Developed at UBC
New technology targeting Alzheimer's Disease licensed to Cangene Corporation.
Monday, September 16, 2013
FDA Lifts Clinical Hold on Cangene's Hemophilia Compound IB1001
Cangene will begin new studies in adult and pediatric patients.
Tuesday, July 30, 2013
Cangene Announces FDA Approval of Botulism Antitoxin
Licensure of BAT™ is key milestone in highly successful collaboration with BARDA to ensure U.S. preparedness against potential botulism-related public health risks.
Thursday, July 25, 2013
Cangene Reports First Quarter 2013 Results
Earnings of 7 Cents per share.
Monday, December 17, 2012
Scientific News
The Changing Tides of the In Vitro Diagnostics Market
With the increasing focus in personalized medicine, diagnostics plays a crucial role in patient monitoring.
LaVision BioTec Reports on the Neuro Research on the Human Brain After Trauma
Company reports on the work of Dr Ali Ertürk from the Institute for Stroke and Dementia Research at LMU Munich.
NIH Study Shows No Benefit of Omega-3 Supplements for Cognitive Decline
Research was published in the Journal of the American Medical Association.
Less May Be More in Slowing Cholera Epidemics
Mathematical model shows more cases may be prevented and more lives saved when using one dose of cholera vaccine instead of recommended two doses.
Investigating the Vape
Expert independent review concludes that e-cigarettes have potential to help smokers quit.
NIH Launches Human RSV Study
Study aims to understand infection in healthy adults to aid development of RSV medicines, vaccines.
Researchers Discover Synthesis of a New Nanomaterial
Interdisciplinary team creates biocomposite for first time using physiological conditions.
Poor Survival Rates in Leukemia Linked to Persistent Genetic Mutations
For patients with an often-deadly form of leukemia, new research suggests that lingering cancer-related mutations – detected after initial treatment with chemotherapy – are associated with an increased risk of relapse and poor survival.
Flu Remedies Help Combat E. coli Bacteria
Physiologists from the University of Zurich have now discovered why the intestinal bacterium Escherichia coli (E. coli) multiplies heavily and has an inflammatory effect.
Marijuana Genome Unraveled
A study by Canadian researchers is providing a clearer picture of the evolutionary history and genetic organization of cannabis, a step that could have agricultural, medical and legal implications for this valuable crop.
Scroll Up
Scroll Down
Skyscraper Banner

Skyscraper Banner
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,500+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,700+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FREE!