Lev Pharmaceuticals, Inc. has entered into an exclusive multi-year agreement with Biotest AG to sell all excess volumes of intermediate plasma products produced by the Sanquin Blood Supply Foundation during the manufacturing process of Lev's lead product candidate, Cinryze (C1 inhibitor).
Lev is a biopharmaceutical company focused on developing and commercialising therapeutic products for the treatment of inflammatory diseases.
"Our agreement to sell intermediate plasma products is consistent with our strategic plan to monetize this valuable asset for Lev and provides us with additional operating flexibility as we prepare for the launch of our lead product candidate, Cinrzye," said, Judson Cooper, chairman, Lev.
The terms of this agreement are subject to certain provisions as outlined in Lev's filing on Form 8-K with the Securities and Exchange Commission.