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Drug Names(s): Phoslyra (liquid), calcium acetate
Description: Patients with advanced renal disease possess excessive levels of phosphate which plays a pivotal role in causing secondary hyperparathyroidism associated with osteodystrophy, and soft-tissue calcification. PhosLo, which consists of calcium acetate, when taken with meals binds to dietary phosphate and prevents its absorption.
Deal Structure: In August 2003, Nabi Biopharmaceuticals completed the acquisition of PhosLo from Braintree Laboratories.
In October 2006, Nabi Biopharmaceuticals announced that it signed a definitive agreement to sell PhosLo and the product's related assets to a US subsidiary of Fresenius Medical Care for consideration of up to $150 million in up front cash, milestone payments, and royalties on sales of a new product formulation under development.
Under the terms of the agreement, Fresenius will pay Nabi Biopharmaceuticals $65 million in cash at closing, and an additional $20 million upon the successful completion of certain milestones. Fresenius is also acquiring rights to a new product formulation currently under development. Following the successful launch of this new product formulation, Fresenius has agreed to pay Nabi Biopharmaceuticals royalties (12%) on incremental sales of the new product formulation for 10 years after the closing date until total consideration paid in the transaction...See full deal structure in Biomedtracker
Partners: Aviragen Therapeutics, Inc.
Pink Sheet Genzyme pursues Renagel reimbursement
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