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news.US biopharmceutical firm Anadys Pharmaceuticals and Swiss drugmaker Novartis AG have gained FDA approval to begin the clinical testing of their investigational hepatitis C treatment, ANA975.
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This gives Anadys the go-ahead to evaluate its lead compound ANA975 in the US. Under the companies joint development and commercialization collaboration created earlier this year, Novartis will pay Anadys $10 million in a milestone payment triggered by recent events.
The product, ANA975, is an oral toll-like receptor 7 (TLR7) agonist, which, along with other oral prodrugs aimed at treating infectious disease, form part of Anady’s collaboration with the Swiss pharmaceutical giant.
Under the agreement, Anadys is eligible to receive up to a total of $570 million in up-front and milestone payments from Novartis based on the successful development and commercialization of ANA975, including a $20 million up-front payment received in July.