Baxter and Xenetic Biosciences restructure collaborative partnership

Baxter has announced a restructuring of its long-running partnership with Xenetic Biosciences as it seeks to strengthen its capabilities in the important field of haemophilia.

The companies previously established an exclusive worldwide agreement to develop novel forms of polysialylated blood coagulation factors – including the Factor VIII therapy BAX 826 – using Xenetic's proprietary polysialic acid technology.

Under the newly agreed terms, Baxter will make an equity investment in the common stock of Xenetic and has committed to make contingent milestone payments, as well as pay royalties on future sales.

BAX 826 is currently under investigation to assess its potential to extend its half-life and duration of effectiveness. The company continues to expect to file for regulatory approval for BAX 855 in the US by the end of 2014.

Brian Goff, head of Baxter's global haemophilia organisation, said: "Through our Xenetic partnership, we are seeking to identify and develop a treatment that the majority of haemophilia patients could administer less frequently, potentially at once-weekly intervals, without compromising efficacy."

This comes after the firm allied with Cell Therapeutics on the development and commercialisation of a promising new cancer drug called pacritinib earlier this month.