Kamada says amendment to Takeda deal could accelerate payments
Apr. 07, 2021 3:55 PM ETKamada Ltd. (KMDA)
By: Dulan Lokuwithana, SA News Editor
Kamada (KMDA -0.3%) has announced an amendment to its license agreement with Takeda (TAK -3.0%) for Glassia, an intravenous FDA-approved therapy developed by the company for Alpha-1 Antitrypsin deficiency.
The supplier of Glassia for Japanese pharma giant for distribution in territories including the U.S., Kamada is expected to transfer the Glassia manufacturing to Takeda by the end of 2021 along with the therapy’s U.S. Biologics License Application (“BLA”).
In return for the BLA transfer, Kamada will receive a $2M payment from Takeda. A final sales-based milestone of $5M due to the company will also be accelerated and the company expects to recognize it in 2021.
In a recent regulatory filing, Kamada has detailed its heavy reliance on Glassia and the impact on revenue and profitability due to the expected termination of the production agreement with Takeda.
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