Baxter and Momenta to develop and commercialise biosimilars
Collaboration will encompass up to six follow-on biologic compounds
Baxter International and Momenta Pharmaceuticals have entered into a global collaboration to develop and commercialise biosimilars. Baxter will contribute its clinical development and biologic manufacturing expertise, global leadership in sterile injectables and global commercial capabilities, while Momenta will provide its expertise in high-resolution analytics, characterisation, and product and process development.
Under the terms of the agreement, Baxter will make an upfront cash payment of US$33m (€25m) to Momenta related to the collaboration for up to six follow-on biologic compounds. Baxter may make additional payments over the next several years for the development of the compounds, contingent upon the achievement of technical, development and regulatory milestones with respect to all six products.
‘As biologics have become an increasingly important part of patient care, the collaboration with Momenta allows us to tap both companies' expertise to expand access to these important therapies,’ said Ludwig Hantson, president of Baxter's BioScience business. ‘The collaboration complements Baxter's early-stage pipeline and allows the company to expand its leadership in biologics at a time when the global regulatory pathway for approval is becoming more clear.’
Craig Wheeler, president and ceo of Momenta added: ‘Momenta and Baxter share a common goal in this collaboration – to create interchangeable biologic products by taking advantage of Momenta's innovative physicochemical and biologic characterization capabilities, coupled with a quality-by-design approach to process development.’
Baxter and Momenta expect to close the transaction in the first quarter of 2012, subject to customary closing conditions.
