BioCryst Pharmaceuticals Inc. announced today that it has licensed RAPIVAB for the treatment of influenza to CSL Ltd.
RAPIVAB, an intravenous, treatment indicated in the United States for acute uncomplicated influenza in adults, is also licensed for use in Japan and Korea, and is the only approved intravenous influenza treatment in the world.
CSL's subsidiary, bioCSL, will commercialize RAPIVAB.
"We are delighted to add RAPIVAB to our product portfolio," general manager and senior vice president of bioCSL John Anderson said. "RAPIVAB is a specialty pharmaceutical that addresses an unmet medical need for the treatment of acute influenza in the hospital emergency room setting. It provides us with the exciting opportunity to enter a new market segment and extend our reach to a different customer group for the management of influenza-infected patients."
Under terms of the agreement, BioCryst will receive an initial payment of $33.7 million from bioCSL and may receive up to $12 million in additional payments related to the accomplishment of regulatory milestones.
"With its expertise and global scale in influenza, bioCSL is the ideal partner to commercialize RAPIVAB in the U.S. and to work with us to pursue additional approvals in Europe, Canada and other world markets," BioCryst President and CEO Jon Stonehouse said. "BioCSL has strong pandemic franchises and has successfully negotiated a number of significant government influenza product stockpiling contracts around the globe."