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news.Abbott has acquired rights to use Elan Corporation's NanoCrystal technology. Abbott has licensed rights to the technology for use in its recently reported collaboration with AstraZeneca, which is focused on developing a new combination product for the management of cholesterol.
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Abbott and AstraZeneca recently announced that they have formed a collaboration to develop a single pill for lipid management that will combine the active ingredient of Abbott’s fibrate drug TriCor with that of AstraZeneca’s statin Crestor. Such a combination of a statin and a fibrate would potentially address LDL-C, HDL-C and triglycerides simultaneously in a single pill.
Elan will receive payments upon the achievement of development, clinical, and regulatory milestones for the Abbott/AstraZeneca combination product. Additionally, Elan will receive royalty payments based on US sales of the combination product, if successfully developed and commercialized.
“We are very pleased to execute this agreement, which follows on from the successful application of our NanoCrystal technology in the current TriCor 145 product. We hope applying this technology will result in the successful development and launch of a combination product that will benefit patients,” commented Paul Breen, executive vice president of Elan Drug Technologies.