ProMetic signs strategic license agreement up to $18 million with Nabi

By Lisa Kerner

Charlotte, N.C., Aug. 21 - ProMetic Life Sciences Inc. and Nabi Biopharmaceuticals formed an agreement for the use of ProMetic's Mimetic Ligands technology in the manufacturing of selected plasma-derived hyperimmune products to fight infections such as hepatitis C.

Nabi will pay milestone payments to ProMetic upon the filing of a Biologics License Application and upon licensure of hyperimmune products made using ProMetic's technology, according to a news release.

In addition, Nabi will pay royalties on the sale of these products.

Total milestone payments could reach $18 million.

"We expect our partnership with ProMetic will allow us to develop our product pipeline with higher yields and fewer processing steps," Nabi senior vice president of research Raafat Fahim said in the release.

In separate services and supply agreements, ProMetic will provide technology transfer and support to Nabi in the use of the licensed Mimetic Ligands technology, as well as the supply of resins required for the licensed process.

Nabi, based in Boca Raton, Fla., operates a manufacturing facility and nine plasma collection centers that provide the antibody plasma used in the manufacture of hyperimmune products.

ProMetic is a Montreal-based biopharmaceutical company specializing in commercial applications derived from its proprietary Mimetic Ligand enabling technology.

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