Shire extends deal with Avexa

UK-based drugmaker Shire says says that it has licensed North American rights to SPD754 (apricitabine), an investigational HIV treatment, to Australian biotechnology firm Avexa. Under the terms of the deal, Avexa will pay an upfront fee of $10.0 million, in addition to developmental and sales-based milestones, in return for the entitlement to develop and commercialize the agent in the region. In January 2005, Shire granted Avexa a license to the compound worldwide, excluding North America, and said that it has taken the decision to extend the deal because of the progress that Avexa has made. The UK company will also receive an additional 8 million of the Australian firm's shares, taking its holding to just over 8%.