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BioMarin Acquires Huxley Pharmaceuticals, Inc.

of BioMarin added, "3,4-DAP is currently the treatment of choice for LEMS. Although its use has been limited as an unapproved product due to regulatory restrictions and limited availability of drug product, 3,4-DAP has been studied in six randomized controlled trials and has been shown to improve muscle strength in LEMS patients as measured by a variety of means. 3,4-DAP has been widely recommended for use in LEMS, and the introduction of amifampridine phosphate will enable regular access to a high quality, stable proprietary product."

Bryan Morton, President and Chief Executive Officer of EUSA Pharma said, "We are pleased now to be working with BioMarin to develop and commercialize 3,4-DAP. BioMarin is well placed to launch this important treatment for LEMS, and to continue its future broader development."

Under the terms of the agreement, BioMarin paid Huxley stockholders $15.0 million upfront and will pay an additional $7.5 million upon final European Commission approval of amifampridine in LEMS, which is expected in late 2009 or early 2010. Additionally, Huxley stockholders are eligible to receive up to approximately $36.0 million in milestone payments if certain annual, cumulative sales and U.S. development milestones are met. In addition, successful development of multiple sclerosis will result in milestone payments to EUSA.

Conference Call Details

BioMarin will host a conference call and webcast to discuss the acquisition of Huxley Pharmaceuticals today, Monday, October 26, at 5:30 p.m. ET. This event can be accessed on the investor section of the BioMarin website at

    Date: October 26, 2009
    Time: 5:30 p.m. ET
    U.S. / Canada Dial-in Number:  866.788.0544
    International Dial-in Number:  857.350.1682
    Participant Code: 53851486
    Replay Dial-in Number: 888.286.8010
    Replay International Dial-in Number: 617.801.6888
    Replay Code: 48079886


SOURCE BioMarin Pharmaceutical Inc.
Copyright©2009 PR Newswire.
All rights reserved

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