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news.Asterand has signed an exclusive license agreement with Allergan, a global multi-specialty healthcare company, whereby Allergan obtains the rights to further develop and commercialize a series of compounds discovered and developed by Asterand to treat conditions and diseases of the eye, such as glaucoma.
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The compounds arise from Asterand’s R99 development program. They are selective, small molecule prostaglandin receptor agonists that have been shown in preclinical studies to be effective in reducing intra-ocular pressure. Allergan plans to further develop a focused list of lead compounds and progress these through clinical development.
Allergan will pay Asterand an upfront technology access fee of $6.25 million. In addition, Asterand can receive success-based development and sales milestone payments that could total up to $56 million, plus royalties.
Martyn Coombs, CEO of Asterand, said: “Asterand is delighted to have reached this agreement with Allergan. Clearly this is a very significant financial deal for Asterand. We are happy that Allergan has decided to carry our prostaglandin program forward after evaluating it under an exclusive material transfer agreement.”