Enanta has discovered several hepatitis C virus protease inhibitors that have demonstrated attractive efficacy and pharmacokinetic profiles in preclinical studies.
Under the terms of the agreement, Abbott gains worldwide access to Enanta’s substantial intellectual property position for a variety of different types of compounds. Abbott also gains access to Enanta’s drug discovery capabilities in the HCV NS3 and NS3/4A protease inhibitor field.
Upon closing, Enanta will receive an upfront payment of $57 million. If all milestones are met additional payments of up to $250 million will be made to Enanta.
Enanta will receive double-digit royalties and holds an option to fund 40% of development costs and US commercialization efforts in exchange for a 40% profit share in the US on the medicines.