Drug giant Baxter acquires Chapel Hill firm for $70M

Baxter International is acquiring Chapel Hill-based Chatham Therapeutics to gain control of gene-based therapy technology focused on hemophilia.

The deal includes a $70 million upfront payment. Additional payments could be made based on development, regulatory and commercial milestones.

The two companies have been working together on hemophilia research since 2012.

Chatham Therapeutics is part of Asklepios BioPharmaceutical (AskBio). AskBio has received support from the North Carolina Biotechnology Center.

The deal includes Chatham’s developmental programs, including a hemophilia program now in clinical study.

Chatham has developed a technology platform known as Biological Nano Particle.

”Chatham’s gene therapy platform technology offers the potential to redefine treatment of both hemophilia A and B,” said Ludwig Hantson, president of Baxter BioScience, which is based in Illinois. ”This technology will be highly complementary to our expanding pipeline of bleeding disorder treatments as we continue our pursuit of a bleed-free world.”

The BNP platform enables a patient’s liver to begin producing a gene therapy targeting hemphilia B.

”Given Baxter’s long-standing commitment to innovative product development in hemophilia, we are confident that this transaction provides the best opportunity for the advancement of our BNPTM gene therapy platform technology for the benefit of hemophilia patients worldwide. The integration of Chatham’s next-generation technology and expertise, along with Baxter’s global marketing and distribution presence, is a combination we anticipate will support efficient delivery of a potential new class of therapeutics to the hemophilia market,” said Jade Samulski, who is the co-founder of Chatham and vice president of Asklepios BioPharmaceutical.

AskBio will maintain a licensing and development agreement with Chatham on use of the BNP platform.

AskBio is also exploring gene-delivery technology for therapeutics that could be used against heart, central nervous system, muscle, ocular and liver diseases.