Lexin Pharmaceutical Corp., Astra Merck Inc. deal

Astra Merck (Wayne, Penn.) signed an evaluation and option agreement to test Lexin's LEX032, a recombinant human protein, to treat acute pancreatitis. There is no effective treatment for the condition, which is caused by alcohol abuse, gallstones, increased triglyceride or calcium blood levels, viral or bacterial infections, trauma or drugs.

Astra Merck will fund preclinical development via an upfront payment, and will receive an option for rights to manufacture and market the product. Terms for development and commercialization will be negotiated if Astra Merck exercises its option. ...