Baxter buys all hemophilia-related assets of Archemix for $30 million and $285 million in potential milestones

US drugmaker Baxter International (NYSE: BAX) has entered into a definitive agreement to acquire all of the hemophilia-related assets of a privately-held biopharmaceutical company, Archemix, and has entered into an exclusive license agreement for certain related intellectual property assets.

Baxter expects to record a special pretax in-process R&D charge of around $30 million in the fourth quarter of 2010 relating to an upfront payment associated with the transaction. In the future, Baxter may also make milestone-related payments to Archemix of up to $285 million. Subject to regulatory approvals and other conditions, the companies expect to complete the transaction by year-end.

The lead product associated with the arrangement is ARC19499, a synthetic, subcutaneously-administered hemophilia therapy currently in a Phase I clinical trial in the UK. ARC19499 blocks tissue factor pathway Inhibitor (TFPI) activity, thereby augmenting and improving blood clotting, potentially reducing replacement factor therapy for patients with hemophilia A and B.