Sector News

Biogen dubs publicly traded hemophilia spinoff Bioverativ

August 9, 2016
Life sciences

Biogen has fleshed out its plan to spin out its blood disorder products and candidates into a separate publicly traded company. The new co will be known as Bioverativ and is slated to launch in early 2017 and trade on the Nasdaq market.

It will include commercialized hemophilia drugs Eloctate and Alprolix, which are partnered with Swedish Orphan Biovitrum (Sobi), as well as a pipeline including gene therapy programs for hemophilia A and B, a non-factor bispecific antibody program to treat patients with hemophilia A and those with inhibitors, as well as sickle cell disease research.

“We’ve chosen to spin off our growing hemophilia business, because we believe it’s the right decision to ensure fit and focus,” said outgoing Biogen CEO George Scangos on the company’s July earnings call.

He added, “That business continues to perform well, with combined second quarter revenues of over $200 million for Eloctate and Alprolix. Alprolix also was approved by the European Commission for the treatment of hemophilia B and will be commercialized in the EU by our collaboration partner, Sobi.”

Bioverativ will be headed by CEO John Cox, formerly Biogen EVP of Pharmaceutical Operations & Technology. “The new company’s name creates a clear connection to our Biogen heritage and biotech focus,” he said in a statement. Biogen first announced its spinoff plans earlier this year in May.

The new company is expected to use the revenues from the marketed drugs to support continued R&D in blood disorders. Specifically, it hopes to create longer acting therapies based on its XTEN technology and get this into the clinic during the first half of 2017. In addition, it expects to move faster on the development for bispecific antibodies and hemophilia-related gene therapy programs.

Bioverative also plans to conduct clinical testing on Eloctate as a potential means to rapidly induce immune tolerance in hemophilia patients who develop inhibitors.

By Stacy Lawrence

Source: Fierce Biotech

comments closed

Related News

June 22, 2024

Ferring launches online assessment tool, educational platform around male fertility

Life sciences

Because infertility is often branded largely as a women’s issue, many men may be unaware of their own possible role in the matter and may not undergo testing in a timely manner—even though research has shown that men “substantially” contribute to about half of all cases of infertility.

June 22, 2024

Johnson & Johnson blueprints €125M plant upgrade as part of 5-year Italy investment

Life sciences

After plugging nearly 50 million euros into its Italy R&D in the first half of the decade, Johnson & Johnson Innovative Medicine is significantly upping its commitment to the country. Over the next five years, J&J Innovative Medicine, which recently rebranded from Janssen, will plug a projected 580 million euros ($621.7 million) into its Italian business, the company said in a press release.

June 22, 2024

India’s Lupin announces CEO pick for new subsidiary as it moves into the CDMO arena

Life sciences

From vitamin maker to pharmaceutical specialist and now contract manufacturer, India’s Lupin is embarking on a new phase of its corporate journey. Lupin on Monday unveiled its new subsidiary, Lupin Manufacturing Solutions, which is poised to work on the development, production and sale of active pharmaceutical ingredients.

How can we help you?

We're easy to reach