Kamada finalizes $5M snakebite antiserum deal in Israel

Kamada, an Israeli biopharmaceutical company engaged in the development, manufacturing and marketing of specialty life-saving therapeutics, says  that, following an initial set-up period, it has finalized its agreement  with the Israeli Ministry of Health to become the exclusive manufacturer  and supplier in Israel of snakebite antiserum against Vipera palaestinae  and Echis coloratus.

Under the terms of the deal, the Ministry will fund all costs associated  with development of the antiserum and the establishment of a Good  Manufacturing Practice production facility, a process which is expected  to take two years. During this period, Kamada will receive four payments  totaling around NIS20.0 million ($5.0 million). In addition, the  Ministry is committed to purchase antiserum for 10 years at agreed  terms.

Chief executive David Tsur said: "this is an important agreement for  Kamada. Not only does it signal the government's confidence in our  capabilities, it also allows us to strengthen our existing asset base.  We look forward to working with the Israeli Ministry of Health in the  development of snakebite antiserum and we hope that in the future our  capabilities in this area will be recognized by others who require these  niche products."