Ipsen and Inspiration sell haemophilia drug to Baxter

Ipsen and Inspiration Biopharmaceuticals have agreed a deal with fellow healthcare company Baxter to sell off rights to a new haemophilia drug and other assets.

The agreement will see Baxter acquire the worldwide rights to OBI-1, a recombinant porcine factor VIII therapy in development for congenital haemophilia A with inhibitors and acquired haemophilia A, as well as Ipsen's industrial facility in Milford.

Baxter has agreed to pay $50 million (31.57 million pounds) upfront and up to $135 million in development and commercial milestone-based fees, in addition to tiered net sales payments ranging from 12.5 percent to 17.5 percent of OBI-1's annual sales.

The drug received fast-track designation from the US Food and Drug Administration in November 2012, with a biologics license application set to be submitted in the first half of this year.

Ipsen and Inspiration are also looking to sell off IB1001 – a recombinant factor IX for the treatment and prevention of bleeding in patients with haemophilia B – under a separate process, which is currently in its final stage of bidding.