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(Alliance News) - AstraZeneca PLC on Friday said its recently acquired rare disease arm Alexion Pharmaceuticals has entered an exclusive global collaboration and licence agreement with Neurimmune AG for the investigational human monoclonal antibody NI006.
The Boston, Massachusetts-based subsidiary of the Cambridge, England-based pharmaceutical company will be granted an exclusive worldwide licence to further develop, manufacture and commercialise NI006 under the terms of the agreement.
Neurimmune, on the other hand, will continue to be responsible for the completion of the current Phase Ib clinical trial on behalf of Alexion, with Alexion paying some trial costs.
Neurimmune will receive an upfront payment of USD30 million, with the potential for additional contingent milestone payments of up to USD730 million upon achievement of certain development, regulatory and commercial milestones.
Additionally, the Swiss biopharmaceutical company will receive low-to-mid teen royalties on net sales of any approved medicine resulting from the collaboration, AstraZeneca added.
"With 30 years of experience in developing medicines for people with rare diseases, Alexion is uniquely positioned to advance innovative science for small patient populations who are frequently underdiagnosed. We look forward to applying this expertise to the development of NI006, which is designed to clear cardiac amyloid fibril deposits with the potential to improve cardiac function for patients living with advanced cardiomyopathy," Alexion Chief Executive Marc Dunoyer said.
AstraZeneca completed the purchase of Alexion for USD39 billion in cash and shares back in July.
Shares in AstraZeneca were down 0.5% at 8,311.00 pence each on Friday morning in London.
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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