Xenetic Biosciences Inc, Baxter deal

The partners amended a 2005 deal under which Xenetic (formerly Lipoxen plc) granted Baxter exclusive rights to Xenetic's polysialic acid (PSA) technology in a field which broadly correlates to blood coagulation factors. Baxter has agreed to increase the tiered royalty rate on sales of products developed under the deal by an undisclosed amount and increase the milestone payments payable to Xenetic to up to $100 million from up to $75 million. Xenetic has already received $4 million under the original terms. Trigger events for the milestones include successful completion of aspects of a Phase I/II trial and a Phase III trial, regulatory approval and sales targets. ...