Shire and ArmaGen announced a worldwide pharma licensing and collaboration agreement for AGT-182.
AGT-182 is an investigational enzyme replacement therapy (ERT) for the potential treatment of both the central nervous system (CNS) and somatic manifestations in patients with Hunter syndrome (MPS II).
This collaboration strengthens Shire’s rare disease pipeline of innovative therapies where there is high unmet need, and underscores the company’s long standing commitment to the Hunter syndrome community.
Shire will obtain worldwide commercialization rights for AGT-182 in exchange for payments of approximately $225 million to ArmaGen, including an initial upfront payment of $15 million in cash and equity, an additional equity investment, R&D funding, development milestones and sales milestones, in addition to royalty payments.
ArmaGen will be responsible for conducting and completing the Phase I/II study which it expects to initiate before the end of 2014, after which point Shire will be responsible for further clinical development, including Phase III trials, and commercialization.
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