Baxter extends distribution deal with Spectral for sepsis product [Seeking Alpha]
TORAY INDUS INC UNSP/ADR (TRYIY)
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Source: Seeking Alpha
Under the amended agreement , Baxter will have the exclusive right to supply and distribute PMX products for ten years in the US after they receive FDA approval. When Baxter spins out its kidney care business into a separate company, the rights will be assigned to the new company. PMX, also called Toraymyxin, is a hemoperfusion device used to remove endotoxin, which can cause sepsis, from the bloodstream. The product, which is in Phase 3 testing for FDA approval, is currently not cleared for the US market, but is available in other countries. Toray Industries markets PMX in Japan and Europe, while Spectral holds exclusive rights to distribute the product in Canada, according to Spectral's website. PMX is guided by Spectral's Endotoxin Activity Assay, which has FDA approval. Spectral said that it expects to receive a milestone payment from Baxter related to an extension of their agreement and the enrollment of 90 patients in a PMX clinical trial. Recommended For You Recomm
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