BioCentury
ARTICLE | Clinical News

AstraZeneca discontinues MEDI-528

October 28, 2011 1:10 AM UTC

AstraZeneca plc (LSE:AZN; NYSE:AZN) said it discontinued development of MEDI-528 due to the product's "lack of efficacy" in a Phase IIb trial to treat uncontrolled, moderate to severe, persistent asthma. Ligand Pharmaceuticals Inc. (NASDAQ:LGND) was eligible for milestones and royalties for the humanized IgG1 mAb targeting IL-9. Last year, Ligand acquired the milestone and royalty rights from now-defunct Genaera Corp. In 2001, Genaera partnered with AstraZeneca's MedImmune LLC unit to develop MEDI-528. On Thursday, Ligand was up $1 to $15.33. ...