Kamada Extends Glassia License Agreement With Baxter - Quick Facts

(RTTNews) - Kamada Ltd. (KMDA) Monday reported that it has extended the supply of Glassia to Baxter International Inc.(BAX) through 2017. Through this extension, Kamada secured $26 million in additional revenues of Glassia, and expects total revenues generated through this agreement to increase to a minimum of $191 million. Glassia is Kamada's proprietary, ready-to-infuse liquid alpha-1 antitrypsin used for the treatment of chronic augmentation and maintenance therapy in adults with clinically evident emphysema due to severe congenital AAT deficiency. Further, the company also noted that the transition to royalty payments for Glassia produced by Baxter is not expected to begin before 2018. The original license agreement was signed in 2010 between Kamada and Baxter, for the distribution and license of Glassia. Under the agreement, Baxter is the exclusive distributor of Glassia in the U.S., Canada, Australia and New Zealand, and is licensed to produce Glassia using Kamada's technology at a Baxter facility for sales in those countries.