As part of the transaction, Emergent acquired Avanir’s lead candidate (AVP-21D9) along with several additional anthrax antibodies. In addition, Emergent also received a limited exclusive license to use Avanir’s proprietary Xenerex Technology platform to develop future human monoclonal antibodies targeted against Bacillus anthracis.
Under terms of the definitive agreement, Avanir has the potential to receive up to $1.75 million in upfront and milestone payments, as well as royalties on annual net sales if the product is commercialized.
Keith Katkin, president and CEO of Avanir, said: “This transaction, along with other potential monetization of non-core assets, will provide additional non-dilutive financing and allow us to continue our focus on the ongoing clinical development of our promising Phase III drug candidate Zenvia.”