AstraZeneca has closed its $760 million global collaboration and licence deal with biopharmaceutical company Neurimmune to develop and distribute NI006.
The product is an investigational human monoclonal antibody currently in Phase Ib development used for the treatment of transthyretin amyloid cardiomyopathy (ATTR-CM).
ATTR-CM is an underdiagnosed, systemic condition that leads to progressive heart failure and is typically fatal within four years of diagnosis.
AstraZeneca subsidiary Alexion has reportedly been granted an exclusive worldwide licence to develop, manufacture and commercialise NI006.
The deal will see a $30 million payment upfront from Alexion to Neurimmune.
Alexion is set to make additional payments of up to $730m upon achievement of certain development, regulatory and commercial milestones.
The company will also pay low-to-mid teen royalties on net sales of any medical applications approved due to the collaboration.
AstraZeneca’s share price increased by 2.17% to 9,256p in early morning trading on Tuesday.