AstraZeneca in $50m licence payout

AstraZeneca is to pay out $50 million to the US firm AtheroGenics as the two firms work on an atherosclerosis treatment.

The payment comes as AtheroGenics managed to pass antitrust rules and AstraZeneca will now be granted an exclusive licence for the worldwide development and commercialisation of AGI-1067, the Phase III compound for the treatment of atherosclerosis.

If AGI-1067 is successfully marketed AstraZeneca could have to pay fees and milestone payment adding up to $1 billion.

Atherosclerosis is a condition that affects the heart and leads to plaque building up in the walls of the arteries causing heart attacks and strokes.

AtheroGenics as a firm focuses on the discovery and development of drugs for the treatment of chronic inflammatory diseases, including heart disease, rheumatoid arthritis and asthma.

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