This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Baxter To Acquire Chatham Therapeutics

Baxter International Inc. (NYSE:BAX) and Chatham Therapeutics, LLC, today announced that Baxter has agreed to acquire all of Chatham’s outstanding membership interests. As a result of the transaction, Baxter will acquire Chatham’s developmental gene therapy programs directed toward the development and commercialization of treatments for hemophilia.

In May 2012, Baxter and Chatham entered into a collaboration to evaluate Chatham’s Biological Nano Particle (BNP™) platform – an advanced recombinant adeno-associated virus (rAAV)-based gene therapy technology – as a potential treatment for hemophilia B, known as BAX 335, which is currently in a Phase I/II study. As a result of this acquisition, Baxter obtains broad access to Chatham’s gene therapy platform, including the previously partnered hemophilia B (FIX) program, a preclinical hemophilia A (FVIII) program, and the potential future application to additional hemophilia treatments.

''Chatham’s gene therapy platform technology offers the potential to redefine treatment of both hemophilia A and B,'' said Ludwig Hantson, Ph.D., president of Baxter BioScience. ''This technology will be highly complementary to our expanding pipeline of bleeding disorder treatments as we continue our pursuit of a bleed-free world.''

Under the terms of the agreement, Baxter will make an initial payment of $70 million to acquire all of the outstanding membership interests of Chatham. Baxter may make additional payments in the future based on specified development, regulatory and commercial milestones.

''Given Baxter’s long-standing commitment to innovative product development in hemophilia, we are confident that this transaction provides the best opportunity for the advancement of our BNP TM gene therapy platform technology for the benefit of hemophilia patients worldwide. The integration of Chatham’s next-generation technology and expertise, along with Baxter’s global marketing and distribution presence, is a combination we anticipate will support efficient delivery of a potential new class of therapeutics to the hemophilia market,'' said Jade Samulski, Co-Founder of Chatham and Vice President of Asklepios BioPharmaceutical, Inc.

Baxter will continue the ongoing Phase I/II open-label clinical trial to assess the safety and optimal dosing schedule of BAX 335, an investigational FIX gene therapy treatment for hemophilia B. The BNP TM technology provides a mechanism for the patient's own liver to begin producing FIX following a single dose of the genetically engineered treatment. The design of the vector allows for more targeted delivery of the FIX therapeutic “cargo” into the natural site of FIX synthesis. This may permit effective therapy with low quantities of the vector.

The Phase I/II clinical trial is proceeding as expected and aims to enroll up to 16 hemophilia B patients.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,076.29 -37.25 -0.22%
S&P 500 1,985.30 +1.77 0.09%
NASDAQ 4,469.4210 +13.4050 0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs