Bayer Signs Deal With Avigen

Friday, November 17th 2000, 12:00 am

By: News On 6

LEVERKUSEN, Germany (AP) â€” Bayer AG's American subsidiary signed a deal Friday with the U.S. biotechnology firm Avigen for worldwide rights to distribute its gene therapy treatment for hemophilia B, Coagulin-B.

The deal secures Bayer's place as international leader in development, production and distribution of treatments for hemophilia.

Bayer valued the deal at up to $60 million and said that includes the purchase of $15 million of Avigen stock. Alameda, Calif.-based Avigen will receive a portion of future sales.

Bayer will work with Avigen to conduct additional clinical trials for Coagulin-B, and the two companies together will seek regulatory approvals.

Coagulin-B is to be produced at a new site in Alameda, and the treatment will carry both the Bayer and Avigen names.

Hemophilia B, less common than hemophilia A, is a gender-linked bleeding disorder caused by the absence or deficiency of the blood clotting protein factor IX. According to the World Hemophilia Foundation, one in 10,000 males born worldwide has hemophilia, which afflicts about 400,000 people worldwide.