AstraZeneca Acquires Asthma Drug from Synairgen
The UK’s second largest drugmaker said it would pay Synairgen $7.25 million upfront, and up to $225 million in potential development, regulatory and commercial milestones for rights to the inhaled interferon beta medicine, codenamed SNG001.
In addition to the milestone and development payments for SNG001, AstraZeneca will also pay tiered royalties ranging between single-digit to mid-teens percentage rates on any future commercial sales, the company said.
AstraZeneca plans to start a Phase IIa study of the drug in patients with severe asthma in early 2015 it said, building on clinical data from an initial Phase IIa trial in a broad asthma population. SNG001 also offers the opportunity to expand the program to include other pulmonary diseases such as chronic obstructive pulmonary disease (COPD), the company added.
The deal is a continuation of AstraZeneca's strategy of striking licensing deals in key therapeutic areas, such as respiratory medicine.
The drug was originally discovered at the University of Southampton in England, before being developed by Synairgen, the UK-based the company said. — Kellen Owings
Subscribe to Drug Industry Daily for complete coverage of the pharmaceutical industry. Click here for more information.