Kedrion Biopharma is expanding its activities in North America and intensifying its commitment in the field of rare diseases thanks to an agreement signed on June 22nd with Liminal BioSciences Inc. (“Liminal BioSciences”), a Canadian company specializing in clinical research and listed on the Nasdaq Global Market (‘LMNL’).
With this agreement Kedrion acquires from Liminal BioSciences a plasma purification business in Laval (Québec, Canada) and the product that will be produced in this plant, which is the first US FDA (Food and Drug Administration) approved drug for the treatment of Congenital Plasminogen (PLG) Deficiency type 1, an ultra-rare systemic disease.
The closing of the transaction is in two phases: Kedrion Biopharma will finalize the acquisition from Liminal BioSciences of its subsidiary Prometic Bioproduction Inc. and consequently will have ownership of the manufacturing operations in Laval. The production facility of Laval has a work force of 135 employees.
The timing for the closing of the remaining part of the agreement (i.e. the acquisition by Kedrion of Liminal’s subsidiary Prometic Biotherapeutics Inc. (PBT), owner of the rights to the product) is linked to the completion of certain conditions by PBT.
On May 21st last, still as part of the overall transaction, Kedrion also acquired from Liminal BioSciences two plasma collection centers, one located in Amherst (New York, USA) and the other in Winnipeg (Manitoba, Canada).
“This transaction – explained Paolo Marcucci, Chairman of Kedrion – represents an opportunity for the future growth of our company: in fact it gives us immediate access to more plasma, it allows us to expand our global operations to Canada and, above all, to enrich our product portfolio with high-impact treatment for patients. For Kedrion it is a further example of our commitment in the fight against rare or ultra-rare diseases and dedication to orphan drugs.”
“This agreement represents an important step toward strengthening the Company’s position in North America – stated Val Romberg, CEO of Kedrion – and in particular toward further growth in the US, which will be the main primary end-market for the product as soon as we are able to start commercialization. We are eager to make this drug available to patients who need it: this represents a further and progressive development in the field of rare and ultra-rare diseases destined to enhance Kedrion’s role as a company dedicated to the needs of patients.”