AstraZeneca completes licensing agreement with LEO Pharma

(ShareCast News) - AstraZeneca has completed a licensing agreement with LEO Pharma, a specialist in dermatology care, for the global licence to monoclonal antibody tralokinumab in skin diseases.Upon completion of the agreement, LEO Pharma made a payment to AstraZeneca of $115m for the exclusive, global rights to tralokinumab in atopic dermatitis and any future additional dermatology indications.Tralokinumab is an IL-13 monoclonal antibody that has completed a Phase IIb trial for the treatment of patients with atopic dermatitis, an inflammatory skin disease resulting in itchy, red, swollen and cracked skin.AstraZeneca will retain a significant ongoing interest in tralokinumab, so the upfront payment, along with all future commercial milestone and royalty payments, will be reported as externalisation revenue in its financial statements.