Novartis AG signs license with Anadys Pharmaceuticals to develop, commercialize new HCV, HCB treatments; completes Hexal acquisition.
Under terms of the agreement, Novartis obtains the rights to develop, manufacture and commercialize NAN975 for HCV as well as develop the drug in additional infectious disease indications including HBV. ANA975, an organ prodrug of Anadys' small molecule compound isatoribine, belongs to a new class of drugs being developed to regulate innate immunity by interacting with TLR7. Novartis says ANA975 is currently in Phase I development for the treatment of HCV. Anadys successfully completed several proof of concept studies with isatoribine in HCV patients.
Under terms of the agreement, Novartis will make an initial license payment of $20 million to Anadys. Anadys is also eligible to receive up to $550 million in regulatory and commercial milestone payments based on the successful development and commercialization of ANA975. A $10 million payment is due following a successful Investigational New Drug Application (IND) submission, which Anadys expects to file with the FDA in the middle of 2005.
Contact: John Gilardi, Novartis AG - Phone: +41 61 324 3018, Web site: www.novartis.com; Pete De Spain - Phone: (858) 530-3653, Web site: www.anadyspharma.com
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|Article Type:||Brief Article|
|Date:||Jun 10, 2005|
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