Baxter (BAX) and Flamel Technologies (FLML) Announce Collaboration to Formulate Longer Acting Forms of Blood Clotting Factors
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Baxter International Inc. (NYSE: BAX) and Flamel Technologies, SA (NASDAQ: FLML) announced that they have entered into agreement to formulate controlled release applications of blood clotting factor replacement therapies using Flamel's Medusa Technology. The work between the two companies will focus on developing longer-acting formulations with the objective of reducing the frequency of infusions required to treat blood clotting disorders in hemophilia. Pursuant to the agreement between the two companies, Flamel will receive technology access fees totaling EUR2.5 million. Baxter will pay all development costs for the program and have an exclusive right to negotiate a license to the Medusa platform.
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