Kamada Amends GLASSIA License Agreement With Takeda - Quick Facts

Israeli biopharmaceutical company Kamada Ltd. (KMDA) announced Wednesday an amendment to the GLASSIA [Alpha1-Proteinase Inhibitor (Human)] license agreement with Japanese peer Takeda Pharmaceutical Co. Ltd. (TAK)

Pursuant to the amendment, Kamada will transfer to Takeda the GLASSIA U.S. Biologics License Application (BLA) upon completion of the transition of GLASSIA manufacturing to Takeda, expected by the end of 2021.

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.

Kamada, as the product's innovator, continues to distribute GLASSIA outside of Takeda's territories and invests in the Alpha-1 Antitrypsin Deficiency field through continued development of the proprietary Inhaled AAT product, currently in a Phase III clinical study

GLASSIA was developed by Kamada, and the product's BLA was approved by the U.S. Food and Drug Administration in 2010. Kamada expects to receive approximately $25 million in product revenues from the supply of GLASSIA to Takeda in 2021.

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