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(Alliance News) - AstraZeneca PLC said on Wednesday it has entered a global development and commercialisation agreement with Ionis Pharmaceuticals Inc for eplontersen, a treatment for TTR amyloidosis.
The Cambridge-based pharmaceutical and biotechnology company said both companies will jointly develop and commercialise eplontersen in the US, while AstraZeneca will develop and commercialise the treatment in the rest of the world, except in Latin America.
Eplontersen is an investigational medicine designed to reduce the production of transthyretin - also known as TTR protein - to treat all types of TTR amyloidosis. TTR amyloidosis is a progressive and fatal disease characterised by the build up of protein in the body's organs and tissues.
The upfront payment from Astra to Ionis is USD200 million. AstraZeneca will make additional conditional payments of up to USD485 million following regulatory approvals.
Astra will also pay up to USD2.9 billion of sales-related milestones based on sales thresholds between USD500 million and USD6 billion, plus royalties in the range of low double-digit to mid-twenties percentage depending on the region.
The collaboration includes territory-specific development as well as commercial and medical affairs cost-sharing provisions. Ionis will continue to manufacture and supply eplontersen for the existing clinical studies and process qualification. Astra will be responsible for commercial supply and will book all sales generated under the agreement.
The transaction will be funded with cash and is expected to be neutral to AstraZeneca's core earnings in 2021. AstraZeneca added the transaction does not impact its financial guidance for 2021.
Shares in Astra opened 0.7% higher in London on Wednesday morning at 8,670.00 pence each.
By Heather Rydings; heatherrydings@alliancenews.com
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