ADMA Biologics Receives Milestone Payment From Biotest For RI-002 BLA Submission

(RTTNews) - ADMA Biologics, Inc. (ADMA), a late-stage biopharmaceutical company, has received a milestone payment from Biotest Aktiengesellschaft as a result of the filing of its Biologics License Application with the U.S. Food and Drug Administration for RI-002, in accordance with the license agreement entered into on December 31, 2012.

ADMA's lead product candidate, RI-002, is a specialty plasma-derived, polyclonal, intravenous immune globulin derived from human plasma containing naturally occurring polyclonal antibodies as well as standardized, high levels of antibodies to respiratory syncytial virus.

ADMA said the milestone funds received under the existing license agreement would be allocated to the company's ongoing commercialization efforts for RI-002.

"Biotest has confidence in ADMA and its mission to bring novel, advanced therapies to market that are derived from human plasma for immune compromised patients. We recognize there is an unmet medical need for immune-compromised patients who can truly benefit from a product like ADMA's RI-002," said Dr. Martin Reinecke, Senior Vice President of Plasma Alliances and Protein Supply, Biotest AG.