Kamada Ltd. (TASE: KMDA) is in advanced negotiations with an international pharmaceutical company, whose name it did not disclose, on a strategic cooperation agreement to complete clinical development and distribution of Kamada's KamRAB rabies vaccine.
In January, Kamada obtained US Food and Drug Administration (FDA) approval for a shortened Phase III clinical trial of its KamRAB rabies vaccine. The shortened trial will slash development costs and time to register and market the product in the US. The Phase III trial aims to test the safety of KamRAB and its effectiveness in boosting the level of rabies antibodies.
Kamada has been marketing KamRAB in Israel and other countries since 2003.
Kamada CEO David Tsur said, "This pending strategic agreement will enable Kamada to sell its passive rabies vaccine in the US, and enjoy much higher profit margins compared with current sales of the product. Kamada will be able to expand its product line in the US market, following the company's flagship product, Glassia, for patients suffering Alpha 1 Antitrypsin protein deficiency a few weeks ago. Sales already total several million dollars."
KamRAB is delivered intravenously, and has a higher safety and cleanliness level compared with other rabies vaccines.
Kamada's share price rose 1.7% in early trading today to NIS 24.41, giving a market cap of NIS 652 million.
Published by Globes [online], Israel business news - www.globes-online.com - on November 21, 2010
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