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ARTICLE | Company News

AstraZeneca gets option to preclinical Orexo program

January 26, 2013 2:37 AM UTC

Orexo AB (SSE:ORX) granted AstraZeneca plc (LSE:AZN; NYSE:AZN) rights to conduct further preclinical research of compounds in Orexo's OX-CLI program, which comprises compounds that inhibit leukotriene C4 synthase (LTC4S) in preclinical development for respiratory diseases. The pharma also has a three-year option to acquire exclusive, worldwide rights to compounds from the program for all indications. Orexo received an undisclosed upfront payment. If AstraZeneca exercises the option, Orexo will also be eligible for undisclosed milestones, plus royalties. Orexo and AstraZeneca declined to disclose details.

Last year, Johnson & Johnson (NYSE:JNJ) and Orexo mutually terminated a 2010 deal under which the pharma had exclusive, worldwide rights to develop and commercialize Orexo's OX-CLI and OX-ESI programs. The OX-ESI compounds inhibit arachidonate 15-lipoxygenase ( ALOX15; 15-LOX). At the time, Orexo said it discontinued development of the compounds from both programs due to a lack of funding. ...