AZ grants Allergan rights to anti-IL-23 mAb

The MedImmune LLC unit of AstraZeneca plc (LSE:AZN; NYSE:AZN) granted Allergan plc (NYSE:AGN) exclusive, worldwide rights to MEDI2070, a human mAb against interleukin-23 (IL-23). The candidate is in a Phase IIb trial to treat moderate to severe Crohn's disease, and is Phase II-ready for ulcerative colitis.

AstraZeneca will receive $250 million up front and is eligible for $1.3 billion in milestones, including $435 million in launch milestones and $725 million in sales-based milestones, plus tiered royalties. ...