Insmed, a Bridgewater, N.J.-based drugmaker focusing on treatments for rare diseases, purchased the exclusive global rights to AstraZeneca's experimental respiratory drug AZD7986.
Here are five things to know about the deal.
- AstraZeneca, based in London, will receive an upfront payment of $30 million and up to $120 million in future payments related to clinical, regulatory and sales-related milestones.
- AstraZeneca also maintains the option to negotiate a deal with Insmed to develop AZD7986 for the treatment of chronic obstructive pulmonary disease or asthma.
- AZD7986 was developed to inhibit an enzyme that plays a key role in inflammatory diseases.
- Insmed said it will conduct a mid-stage study of AZD7986 in non-cystic fibrosis bronchiectasis, which causes permanently dilated airways in the lungs due to chronic inflammation and infection, reported Reuters.
- The deal comes just two days after AstraZeneca sold the rights to an experimental anti-inflammatory drug to Parsippany-Troy Hills, N.J.-based Allergan for $250 million.