Allelix, Astra AB, Chiron deal

The companies agreed to develop ALX1-11, AXB's recombinant human parathyroid hormone (PTH) product, to treat osteoporosis. AXB will receive up to $36.6 million in licensing payments, milestones and annual R&D payments. AXB said $12.2 million is non-contingent, representing the licensing fee and the R&D payments.

Astra will conduct Phase III trials, which AXB estimated could cost $75 million. Phase II trials of PTH in North America are expected to conclude next February. ...