AstraZeneca, Allergan deal

The MedImmune LLC unit of AstraZeneca granted Allergan exclusive, worldwide rights to develop and commercialize MEDI2070, a human mAb against 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. MedImmune will transition responsibility for the Phase IIb trial to Allergan. AZ will receive $250 million up front and is eligible for up to $1.3 billion in milestones, including $435 million in launch milestones and $725 million in sales milestones, plus tiered royalties up to the low double-digits. The deal is expected to close this quarter. AZ declined to provide further details, and Allergan did not respond to inquiries. ...