Big pharma company AstraZeneca announced an agreement with its U.S. peer Eli Lilly and Co. to jointly develop and commercialise BACE Inhibitor AZD3293, which is currently in development as a potential treatment for Alzheimer's disease.
Under the deal terms, Lilly will pay AstraZeneca up to $500 million in development and regulatory milestone payments.
AstraZeneca expects to receive the first milestone payment of $50 million in the first half of 2015.
The big pharma companies will share all future costs equally for the development and commercialisation of AZD3293, as well as net global revenues post-launch.
AZD3293 is an oral beta secretase cleaving enzyme or BACE inhibitor.
It has been shown in Phase I studies to significantly and dose-dependently reduce
AstraZeneca noted that both companies aim to progress AZD3293 rapidly into a Phase II/III clinical trial in patients with early Alzheimer's disease.
Lilly will lead clinical development, working with researchers from AstraZeneca's Innovative Medicines Unit for neuroscience, while AstraZeneca will be responsible for manufacturing.
The big pharma companies will take joint responsibility for commercialisation of AZD3293.
For further deal information visit Current Agreements (subscription required)
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