The newly FDA approved drug Obizur, for the treatment of hemophilia, owes much of its development to the Bala Cynwyd biotechnology company, Octagen.
Obizur, which is now owned by Baxter International, will be used to treat a specific type of hemophilia; Acquired hemophilia A. This is rare, and affects older adults, unlike congenital hemophilia. It also occurs equally in both males and females.
Octagen was financed to a significant degree by Philadelphia area angel investors. The company was founded in 1997 by a hematologist and Emory University professor, Dr. John S. Lollar and pharmaceutical executive, Richard Driansky.
As new biotechnology companies are founded, or are bought out, Stationery printing companies are often called upon to update Letterheads and digital Business Cards, among other Print products.
Paris-based Ipson collaborated with Octagen in the development of Obizur for nearly a decade. All of Obizur’s preclinical and phase-I and phase-II clinical testing was conducted by Octagen. In 2008, a deal between the two companies was arranged and, for a $10.5m upfront payment, Ipsen acquired exclusive rights to the experimental drug.
Last year, the rights to Obizur were acquired by Baxter from Ipsen Pharma and BioPharmaceuticals. Octagen’s owners will receive additional payments triggered by the FDA approval. Driansky, when questioned as to the amount, would only say that it was “substantial".Get a Free Quote for Business Cards Get a Free Quote for Letterheads Get a Free Quote for Stationery Get a Free Quote for Print
