The agreement comes after positive preclinical trials for the products which are focused on the treatment of neurological diseases such as Alzheimer’s.
The previous success of the partnership has led the companies to extend their collaboration twice. The two companies have already worked together developing drugs that combat pain and eye diseases and amyothropic lateral sclerosis
Under the terms of the collaboration, ExonHit receives financial support in the form of on-going R&D payments as well as payments for drug candidates achieving certain development milestones. Additionally, ExonHit will receive co-development and co-commercialization options in therapeutic areas outside of Allergan’s key strategic areas, as well as, royalties and profit-sharing on commercialized drugs. The current extension will continue until December 2009.
“We are encouraged by the initial results of this collaboration, and look forward to continued progress working with ExonHit in finding innovative treatments that address unmet medical needs” said Dr Scott Whitcup, Executive vice president, R&D, Allergan.
“The extension of the collaboration in duration as well as in scope of diseases covered speaks to the quality of the results already achieved as well as to the trust both companies have regarding future success,” commented Bruno Tocque, CEO of ExonHit Therapeutics.