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LONDON (Alliance News) - AstraZeneca PLC said Tuesday that it has agreed with Eli Lilly and Co Ltd to jointly develop and commercialise its compound AZD3293 as a potential treatment for Alzheimer's disease.
AZD3293 is an oral beta secretase cleaving enzyme inhibitor; this is an enzyme associated with the development of peptides called amyloid beta. The progression of Alzheimer's is characterised by the build up of amyloid beta, so inhibiting this enzyme is expected to prevent the formation of amyloid plaque, and slow progression of the disease.
In Phase I studies, the compound has been shown to "significantly" reduce the levels of amyloid beta in the cerebro-spinal fluid of Alzheimer's patients and healthy volunteers, the company said.
Under the deal Lilly will pay AstraZeneca up to USD500 million in development and milestone payments. AstraZeneca expects to receive the first milestone payment of USD50 million in the first half of 2015. The two will share costs equally for the development and commercialisation of the drug.
"We believe that, by combining the scientific expertise from our two organisations and by sharing the risks and cost of late stage development, we will be able to accelerate the advancement of AZD3293 and progress a promising new approach to support the treatment of Alzheimer's patients around the world," said Mene Pangalos, executive vice president of innovative medicines and early development at AstraZeneca in a statement.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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