(Sharecast News) - Drugmaker AstraZeneca said on Tuesday that its rare diseases subsidiary had closed an exclusive global collaboration and licence agreement with Neurimmune for NI006, an investigational human monoclonal antibody currently in Phase Ib development.
AstraZeneca said its Alexion subsidiary had been granted an exclusive worldwide licence to develop, manufacture and commercialise NI006, which will be used for the treatment of transthyretin amyloid cardiomyopathy, an underdiagnosed, systemic condition that leads to progressive heart failure and a high rate of fatality within four years from diagnosis.
Under the terms of the agreement, Alexion will make an upfront payment of $30.0m to Neurimmune, while there will also be additional contingent milestone payments of up to $730.0m upon achievement of certain development, regulatory and commercial milestones. It will also pay "low-to-mid teen royalties" on net sales of any approved medicine resulting from the collaboration.
AZN added that Neurimmune will continue to be responsible for the completion of the current Phase Ib clinical trial, while Alexion will pay certain trial costs and be responsible for further clinical development, manufacturing and commercialisation following the trial.
Astrazeneca (AZN)
