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Aptevo Therapeutics Inc.
Drug Names(s): recombinant factor IX (FIX), Nonacog Gamma, Trenonacog Alfa, IB1001
Description: IB1001 is an intravenous recombinant Factor IX product for the acute and preventative treatment of the bleeding disorder associated with hemophilia B. Factor IX is activated by factor XIa or VIIa to factor IXa. Factor IXa, with a factor VIII cofactor, hydrolyses an arginine-isoleucine bond in factor X to form factor Xa. IB1001 is produced with Inspiration's proprietary recombinant protein manufacturing technology, which significantly increases cell-line productivity, lowering production costs. The company hopes this will lead to production cost advantages over competing products.
IB1001 was originially developed by Inspiration Biopharmaceuticals.
Ipsen and Inspiration
In January 2010, Ipsen and Inspiration entered into a partnership to create a hemophilia franchise including Ipsen's OBI-1 and Inspiration's IB1001. Ipsen will make an upfront investment of $85 million in Inspiration in exchange for shares of a new class of preferred stock constituting 20% of Inspirations fully-diluted equity and provide up to $259 million of funding to Inspiration.
Under the terms of the agreement, Ipsen will exclusively sub-license OBI-1 to Inspiration in exchange for $50 million in convertible notes and a 27.5% royalty on future OBI-1 sales. In addition, milestone payments up to $174 million would be paid to Inspiration based on the successful development of IB1001 and OBI-1. For each milestone payment, Ipsen would receive a note convertible into Inspiration equity with a 7- or up to 9-year maturity and a 2.5% coupon. These notes would be redeemable...See full deal structure in Biomedtracker
Partners: Ipsen SA
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