Kamada Ltd. (TASE: KMDA) has been awarded a patent by the US Patent and Trademark Office for the company's "Large Scale Preparation of Alpha-1 Proteinase Inhibitor and Use Thereof". The patent protects the process and use of the cleaning and purification technology of the Alpha-1 Antitrypsin protein, used in the production of the company's intravenous drug, Glassia for the treatment of congenital emphysema and other respiratory diseases. The patent will also protect production processes of the next generation inhalable
Kamada obtained the patent less than two weeks after it launched Glassia sales in US, and two months after it signed a strategic marketing deal for the drug with Baxter International Inc. (NYSE: BAX). The patent expands and strengthens Kamada's intellectual property, and follows patents in Europe and Australia.
Last week, Kamada initiated US shipments of Glassia to Baxter Healthcare Corporation, and estimated its revenue through the end of 2010 from Glassia deliveries to Baxter and first milestone payments at $10 million. Kamada already received $20 million received from Baxter when the distribution agreement was signed.
Kamada CEO David Tsur said, "I am proud and very pleased by the US patent, which is further testimony of our proprietary innovative technology and know-how that we developed for the production process of the Alpha-1 Antitrypsin protein. This approval is important and supports development of the next generation inhalation AAT drug, which will lead the company to new business horizons and greater growth in the future."
Kamada's share price rose 3.4% in morning trading to NIS 27.71, giving a market cap of NIS 727 million.
Published by Globes [online], Israel business news - www.globes-online.com - on October 25, 2010
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