BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) has acquired Huxley Pharmaceuticals, Inc. Huxley Pharmaceuticals, Inc. has rights to a proprietary for of 3,4-diaminopyridine, amifampridine phosphate, for the autoimmune disease Lambert Eaton Myasthenic Syndrome (LEMS). Under the terms of the agreement, BioMarin paid Huxley stockholder $15.0 million upfront and will pay an additional $7.5 million upon final European Commission approval of amifampridine in LEMS. Approximately $36.0 million in milestone payments are eligible to Huxley stockholders if certain sales and development milestones are met.
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About BioMarin
BioMarin develops and commercializes innovative biopharmaceuticals for serious diseases and medical conditions. The company's product portfolio comprises three approved products and multiple clinical and pre-clinical product candidates. Approved products include Naglazyme® (galsulfase) for mucopolysaccharidosis VI (MPS VI), a product wholly developed and commercialized by BioMarin; Aldurazyme® (laronidase) for mucopolysaccharidosis I (MPS I), a product which BioMarin developed through a 50/50 joint venture with Genzyme Corporation; and Kuvan® (sapropterin dihydrochloride) Tablets, for phenylketonuria (PKU), developed in partnership with Merck Serono, a division of Merck KGaA of Darmstadt, Germany. Other product candidates include PEG-PAL (PEGylated recombinant phenylalanine ammonia lyase), which is currently in Phase II clinical development for the treatment of PKU and GALNS (N-acetylgalactosamine 6-sulfatase), which is currently in Phase I/II clinical development for the treatment of MPS IVA.
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