Asterand and Allergan in potential $62 million preclinical eye disease deal
This article was originally published in Scrip
Executive Summary
Asterand could receive up to $62.3 million after signing an exclusive licence agreement with Allergan on the development of preclinical compounds for eye diseases. Allergan gains the right to develop and commercialise certain selective, small-molecule prostaglandin receptor agonists from Asterand's R99 development programme to treat conditions such as glaucoma. Allergan will give Asterand an upfront technology access fee of $6.3 million and up to a further $56 million on success-based development and sales milestone payments, plus royalties. Asterand, which provides human tissue and services for drug discovery research, has other drug discovery programmes such as further prostaglandin agonists for immuno-inflammatory diseases and pre-term labour, and compounds for treating bone disease, cancer and irritable bowel syndrome. Martyn Coombs, Asterand CEO, says the company will seek out-licensing opportunities with other pharma companies.