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Kamada Announces Amendment to GLASSIA® License Agreement with Takeda
Following the Completion of the Transition of GLASSIA Manufacturing, Kamada will Transfer the Product’s US Biologics License Application (BLA) to Takeda;
About this update from Kamada Ltd.
[{"type":"text","content":"Following the Completion of the Transition of GLASSIA Manufacturing, Kamada will Transfer the Product’s US Biologics License Application (BLA) to Takeda; Expected to Occur by End of 2021Kamada to Receive from Takeda a Payment of $2 Million for the BLA Transfer Final Sales-Based Milestone Payment of $5 Million Due to Kamada under the License Agreement was AcceleratedNo Other Material Changes to the GLASSIA License Agreement Between Kamada and TakedaKamada Continues to Distribute GLASSIA Outside of Takeda’s Territories and Invests in the Alpha-1 Antitrypsin Deficiency Field Through Continued Development of the Inhaled AAT Product, Currently in a Phase III Clinical Study REHOVOT, Israel, April 07, 2021 (GLOBE NEWSWIRE) -- Kamada Ltd. (NASDAQ: KMDA; TASE: KMDA.TA), a plasma-derived biopharmaceutical company, today announced an amendment to the GLASSIA® [Alpha1-Proteinase Inhibitor (Human)] license agreement with Takeda. Pursuant to the amendment, upon completion of the transition of GLASSIA manufacturing to Takeda, expected by the end of 2021, Kamada will transfer to Takeda the GLASSIA U.S. Biologics License Application (BLA). In consideration for the BLA transfer, Kamada will receive a $2 million payment from Takeda. In addition, the payment by Takeda of the final sales-based milestone of $5 million due to Kamada under the license agreement was accelerated and the Company anticipates it will be able to recognize this milestone during 2021. The parties have agreed to continue to share product related information and data following the BLA transfer. There are no other material changes to the existing GLASSIA license agreement. “Based on the planned transition of GLASSIA manufacturing to Takeda later this year, and its continued distribution of the product in the U.S., the transfer of the BLA to Takeda is a prudent next step,” said Amir London, Kamada’s Chief Executive Officer. “Kamada, as the product's innovator, continues the registration and distribution of GLASSIA in countries, outside of the named territories of the U.S., Canada, Australia and New Zealand retained by Takeda, and invests in the Alpha-1 Antitrypsin Deficiency field through continued development of our proprietary Inhaled AAT product for which we are currently conducting the InnovAATe clinical trial, a randomized, double-blind, placebo-controlled, pivotal Phase 3 st...