Archemix sells hemophilia drug assets to Baxter for up to $305M
Cambridge-based Archemix Corp. has agreed to sell all of its hemophilia-related assets to Illinois life sciences company Baxter International Inc. for a deal that could be worth up to $305 million for Archemix.
The deal, which also includes an exclusive license agreement for certain hemophilia-related intellectual property assets from Archemix, will have Baxter (NYSE: BAX) paying $30 million in an upfront fee for the assets. Baxter may also make milestone payments to Archemix of up to $285 million. The deal is expected to close by the end of the year, subject to the usual conditions.