Biogen has laid out its plans to sell its blood disorder products through a separate publicly traded company, which will be known as Bioverativ. The new company is set to launch in early 2017 and will trade on Nasdaq. The products sold by the new company will include haemophilia drugs, Eloctate and Alprolix, partnered with Swedish Orphan Biovitrium (Sobi), as well as a new line of products which will include gene therapy programs for haemophilia A and B, a non-factor specific antibody program to treat haemophilia A patients, as well as sickle cell diseases research.
The outgoing CEO of Biogen, George Scangos said that the decision to make spinoff of their own haemophilia business was correct to ensure fit and focus on the product. He further added that the business was performing well with revenues of over $200 million for Eloctate and Alprolix. Alprolix additionally received approval from the European Commission for the treatment of haemophilia B and will be sold commercially in the EU countries by Biogen’s partner, Sobi.
The new company, Bioverativ, will have the former Biogen EVP of Pharmaceutical Operations & Technology, John Cox, as the Chief Operating Officer (CEO). John said of the new company’s name that it will create the required connection to Biogen’s heritage and its biotechnology focus.
It is expected that the Bioverativ will use revenues from its marketed drugs to advance its research and development in blood disorders. It particularly hopes to develop longer acting therapies based on its XTEN technology and get it available commercially by June 2017. Additionally, it hopes to make rapid developments for bispecific antibodies and haemophilia related gene therapy programs. There are also plans to conduct clinical testing on Eloctate as a way of inducing the immune tolerance in haemophilia patients who develop inhibitors.