Millendo Licenses AZD4901 Compound From AZ

Ann Arbor, Mich.-based Millendo Therapeutics is in-licensing AstraZeneca’s AZD4901 for the treatment of polycystic ovary syndrome.

Under the agreement, Millendo will obtain worldwide development and commercialization rights to the compound, which it will develop as MLE4901. AZ will receive an undisclosed upfront payment and is eligible to receive milestone payments.

Millendo also has scooped up a $62 million round of Series B funding to advance its pipeline of endocrine disorder therapies. New Enterprise Associates led the round, which included new investors Roche Venture Fund, Adams Street Partners, Altitude Life Science Ventures, Longwood Fund and Renaissance Venture Capital Fund. Current investors Frazier Healthcare Partners, Osage University Partners, 5AM Ventures and the Regents of the University of Michigan under the Michigan Investment in New Technology Startup Program also participated.