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(Alliance News) - AstraZeneca PLC said on Tuesday its rare disease group has closed an exclusive global collaboration to develop and commercialise an investigational human monoclonal antibody.
The Cambridge, England-based pharmaceutical company's rare disease group, Alexion, will partner with Swiss biopharmaceutical company Neurimmune AG on the NI006 treatment, which is currently in phase Ib development.
NI006 is being used to treat transthyretin amyloid cardiomyopathy; an underdiagnosed, systemic condition that leads to progressive heart failure. The condition has a high rate of fatality in the four years post-diagnosis. It is estimated there are 300,000 to 500,0000 cases worldwide, with most going undiagnosed.
Alexion will pay Neurimmune USD30 million upfront, and a further USD730 million will be due upon the achievement of certain regulatory, development and commercial milestones. Neurimmune also will receive "low-to-mid teen" royalties on net sales of any medicine produced from the collaboration that receives approval.
Neurimmune will be responsible for completing the phase IB trials, but Alexion will pay certain associated costs.
Alexion will then be responsible for any further clinical development, manufacturing and commercialisation of NI006, for which it has been granted an exclusive worldwide license.
"NI006 adds a novel and complementary approach to AstraZeneca and Alexion's pipeline of investigational therapies focused on amyloidosis and strengthens the company's broader commitment to addressing cardiomyopathies that can lead to heart failure," AZ said.
Shares in AstraZeneca were up 1.6% to 9,203.00 pence each in London on Tuesday morning.
By Elizabeth Winter; elizabethwinter@alliancenews.com
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