Aevi Genomics Medicine enters license agreement with AstraZeneca.
Aevi Genomic Medicine announced that it has obtained the right to exercise an exclusive global license for MEDI2338, a Phase 2-ready fully human monoclonal antibody that targets interleukin 18. The company plans to initially develop MEDI2338 for adult onset Still's disease, a serious rare and orphan rheumatological disease with no currently approved biologic therapies in the US. Further development for several other rare autoinflammatory disorders that are driven by IL-18 will follow. Under the terms of the agreement, Aevi will have the right to exercise an exclusive global license to develop and commercialize MEDI2338. The company will pay a combined mid-single digit millions in cash and equity upon exercise of the option, up to $162M upon achievement of certain development and sales-related milestones and tiered low double-digit royalties on global annual product sales. Exercising the option is contingent on Aevi securing additional funding. The company will be fully responsible for the development and commercialization of the program.
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|Date:||Aug 7, 2019|
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