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Kedrion, ProMetic to develop orphan drugs from plasma
MONTREAL—ProMetic Life Sciences Inc. announced that it signed a definitive agreement for development of two hyperimmunes with Kedrion S.p.A. Terms of this latest agreement between the two companies call for upfront and milestone payments, as well as service fees to ProMetic. Potential revenues to ProMetic from Hepatitis B Hyperimmune direct sales (expected to commence in 2011) in North America are expected exceed $30 million annually. The first product to be developed will target the Hepatitis B Hyperimmune market which is currently estimated in Europe and in the U.S. to be at $200 million and is expected to reach $400 million by 2015.
LUCCA, Italy—Kedrion S.p.A. and ProMetic BioTherapeutics,, a subsidiary of Montreal, Canada-based ProMetic Life Sciences Inc., have formed a strategic alliance to develop orphan drugs derived from human plasma utilizing ProMetic's proprietary manufacturing process, the Plasma Protein Purification System (PPPS).
The alliance between the two companies was created to select specific proteins that can be manufactured into drugs that either have received orphan drug designation or have the potential to receive it.
The PPPS technology can be applied to the recovery of certain proteins that have established therapeutic value but cannot be extracted effectively via current manufacturing practices, or that are not the focus of large plasma fractionators. Although the financial details of the alliance were not disclosed, ProMetic and Kedrion will share in the revenue derived from the sales of commercialized therapeutics and will initially target Europe.