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Kamada Receives Two Milestone Payments under Strategic Agreements with Chiesi Farmaceutici and Baxalta

NESS ZIONA, Israel, May 02, 2016 (BUSINESS WIRE) -- Kamada Ltd. KMDA, +4.07% (tase:KMDA), a plasma-derived protein therapeutics company focused on orphan indications, announces receipt of two milestone payments as a result of achieving certain regulatory and sales milestones under the strategic agreements with Chiesi Farmaceutici S.p.A. and Baxalta Incorporated BXLT, +1.33%

Kamada received a milestone payment from Chiesi upon the filing of a Marketing Authorization Application (MAA) with the European Medicines Agency (EMA) for inhaled alpha-1 antitrypsin (AAT) for the treatment of AAT deficiency (AATD). Chiesi Farmaceutici is Kamada’s exclusive marketing and distribution partner for its inhaled AAT for the treatment of AATD in Europe. In addition, Kamada received a milestone payment from Baxalta as a result of Baxalta achieving an undisclosed sales milestone for Glassia®, Kamada's intravenous (IV) AAT treatment. Baxalta is Kamada’s strategic partner for the exclusive distribution of Glassia® for all indications in the U.S., Canada, Australia and New Zealand.

Kamada will record these payments as deferred revenue and will recognize them during the term of the strategic agreements.

“We are particularly pleased to receive these regulatory and sales milestones as they provide non-dilutive funding that strengthens our balance sheet and highlights our continued commitment to executing our global strategic plan,” said Amir London, Chief Executive Officer of Kamada. “Our MAA submission represents an important achievement that brings us one...