AstraZeneca to fork out $815 million for rights to anemia drug candidate
In yet another move to boost its R&D pipeline, Anglo-Swedish drug major AstraZeneca (LSE: AZN) has entered into a strategic collaboration with privately-held US biotech firm FibroGen to develop and commercialize FG-4592, a first-in-class oral compound in late-stage development for the treatment of anemia associated with chronic kidney disease (CKD) and end-stage renal disease (ESRD), in a deal worth a potential more than $815 million.
AstraZeneca said this morning (July 31) that it will pay FibroGen committed upfront and subsequent non-contingent payments totalling $350 million, as well as potential future development related milestone payments of up to $465 million, and potential future sales related milestone payments in addition to tiered royalty payments on future sales on FG-4592 in the low 20% range. Additional development milestones will be payable for any subsequent indications which the companies choose to pursue.
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