Lilly buys into AZ's BACE for Alzheimer's

Eli Lilly and Co. (NYSE:LLY) will pay up to $500 million to AstraZeneca plc (LSE:AZN; NYSE:AZN) under a deal for the pharmas to jointly develop and commercialize AZ's AZD3293 for Alzheimer's disease.

The partners said Phase I studies have shown that the oral beta-site APP-cleaving enzyme (BACE) inhibitor reduced the amyloid beta in cerebrospinal fluid of healthy volunteers and AD patients. The partners said they plan to "rapidly" move AZD3293 to a Phase II/III trial in patients with early AD, but did not disclose a timeline. ...