Baxter to acquire Chatham Therapeutics

Baxter International Inc. and Chatham Therapeutics, LLC, 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 Haemophilia.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 Haemophilia 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 haemophilia B (FIX) program, a preclinical Haemophilia A (FVIII) program, and the potential future application to additional Haemophilia 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.