UK-based Mereo BioPharma Group has entered an agreement with AstraZeneca for an exclusive licence and an option to purchase AZD9668 for the potential treatment of alpha-1 antitrypsin deficiency (AATD).
AZD9668 is an oral inhibitor of neutrophil elastase.
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Mereo BioPharma Group is a clinical-stage biopharmaceutical company that focuses on rare and speciality diseases.
The congenital orphan disease, AATD, is a genetic disorder that can result in severe debilitating conditions, such as chronic liver disease and life-threatening pulmonary emphysema.
Pulmonary emphysema leads to irreversible destruction of the tissues, which support the function of the lungs, and causes severe shortness of breath and wheezing.
Under the exclusive licence, Mereo BioPharma intends to perform a Phase II trial for the treatment of AATD.
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By GlobalDataThe company also has the right to exercise its option to buy AZD9668 after the initiation of pivotal studies.
Mereo BioPharma Group CEO Denise Scots-Knight said: “We are delighted to have closed this agreement with AstraZeneca for AZD9668 in furtherance of our stated strategy of building a portfolio of products focused on rare and speciality diseases.
“We believe that this neutrophil elastase inhibitor has potential as an effective, orally available treatment for AATD, an undertreated orphan condition that results in progressive lung destruction.
“The structure of this licence and option agreement allows us to complete the Phase II study with our existing resources before triggering additional payments to acquire the asset outright.”
The company has acquired the licence and option to buy AstraZeneca’s AZD9668 for an initial upfront payment of up to $5m, in a combination of $3m in cash and the issue of 490,798 new ordinary shares.
