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AstraZeneca
in Deals Worth Up To $800M
January
31, 2007--Argenta and AstraZeneca
have announced an alliance to identify improved
bronchodilators to treat chronic obstructive pulmonary
disease. Under the agreement, Argenta receives $21
million upfront plus further committed research
funding and preclinical milestone payments.
The
companies will jointly identify long-acting muscarinic
antagonists and dual-acting muscarinic antagonist-ß2
agonist candidate drugs. Upon AstraZeneca's decision,
such candidate drugs will be developed as once-daily,
inhaled mono or combination therapies. AstraZeneca
will be responsible for the development and worldwide
commercialization of products arising out of the
collaboration. Dependent upon success, Argenta is
eligible for further development, regulatory, and
sales milestones, taking the total deal value to
around $500 million. Royalties will also be payable to
Argenta dependent upon certain sales thresholds being
achieved. Argenta
Discovery
January
31, 2007--AstraZeneca
and Palatin will collaborate to discover, develop, and
commercialize small-molecule compounds targeting
melanocortin receptors. The
deal is based on Palatin's melanocortin receptor
obesity program and includes access to compound
libraries, core technologies, and expertise in
melanocortin receptor drug discovery and development.
Under
the agreement, Palatin will receive an upfront payment
of $10 million from AstraZeneca and is eligible for
milestone payments totaling $300 million, with up to
$180 million contingent upon development and
regulatory milestones and the balance on achievement
of sales targets, together with the payment of stepped
royalties on product sales to double-digit rates,
dependent on sales achieved. AstraZeneca will assume
responsibility for product commercialization, product
discovery and development costs, with both companies
contributing scientific expertise in the research
collaboration. AstraZeneca
URL: http://www.pharmadd.com/topnews/January
31 2007.asp
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