British drugmaker AstraZeneca’s global biologics research and development arm MedImmune has completed a licensing agreement with Allergan for the global rights to IL-23 monoclonal antibody MEDI2070.
MEDI2070 is currently in a Phase IIb clinical trial for moderate-to-severe Crohn’s disease and ready for Phase II for ulcerative colitis.
These diseases are outside the company’s three main therapy areas of respiratory, cardiovascular and metabolic diseases, and oncology.
Until a mutually agreed transition date, MedImmune plans to continue the ongoing Phase II trials. AstraZeneca will not retain an ongoing interest in MEDI2070.
Under the agreement, which was originally announced last month, Allergan will pay $250m to AstraZeneca for an exclusive licence to develop and commercialise MEDI2070 globally.
Allergan may also make potential additional payments of up to $1.27bn to AstraZeneca, which is dependent on the achievement of agreed upon development.
MedImmune executive vice-president Bahija Jallal had said: “This agreement demonstrates our sharp focus on three main therapy areas, while creating value from the increased R&D productivity and innovative science in our pipeline through collaborations.
“Allergan has significant experience in gastrointestinal and inflammatory diseases and is the right partner to progress the development and commercialisation of MEDI2070.”
MedImmune has been leading the clinical development for MEDI2070 under an agreement signed by AstraZeneca with Amgen in March 2012.
Image: AstraZeneca's R&D Site in Mölndal, Sweden. Photo: courtesy of Erik031.
