DEERFIELD (dpa-AFX) - Baxter International Inc. (BAX) and Chatham Therapeutics, LLC announced that Baxter has agreed to acquire all of Chatham's outstanding membership interests. Baxter will acquire Chatham's developmental gene therapy programs directed toward the development and commercialization of treatments for hemophilia.
Baxter will make an initial payment of $70 million, and may make additional payments in the future based on specified development, regulatory and commercial milestones.
Chatham Therapeutics, LLC is a privately held clinical development-stage biotechnology company engaged in the development of gene therapy-mediated treatments for hemophilia. In May 2012, Baxter and Chatham entered into a collaboration to evaluate Chatham's Biological Nano Particle 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.
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