MEDIMMUNE AND AVALON PHARMACEUTICALS ANNOUNCE COLLABORATION

MedImmune and Avalon Pharmaceuticals have announced a collaboration to discover and develop small molecule therapeutic compounds in the area of inflammatory disease.

Avalon will use its AvalonRx drug discovery engine to identify lead compounds. MedImmune will be responsible for preclinical and clinical testing of any resulting product candidates, as well as all future development and sales and marketing activities.

Under the terms of the agreement, Avalon will receive an upfront payment, research and development support, milestone payments, and royalties on any future marketed products. MedImmune also has the option to initiate two additional small molecule drug discovery collaborations with Avalon under similar terms.