AstraZeneca's MedImmune unit in licensing deal with Phylogica for antimicrobial peptide
Australian drug discovery firm Phylogica (ASX: PYC, XETRA: PH7) has entered into an agreement with Anglo-Swedish drug major AstraZeneca's (LSE: AZN) USA-based MedImmune to evaluate Phylogica's proprietary Phylomer peptide library for novel antimicrobial peptides. The agreement establishes a plan for collaborative discovery between the companies, with potential development and commercialization of resulting novel antibiotics by MedImmune.
Under the terms of the deal, Phylogica will receive an upfront payment of $750,000 and an additional $750,000 in committed research funding for an initial 12-month term. In addition, the Australian firm is eligible to receive development, regulatory and commercial milestone payments of up to $98 million, as well as royalties on potential worldwide sales.
Will use Phylomer peptide libraries
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