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news.AstraZeneca has reached an agreement to acquire UK biotechnology company Arrow Therapeutics for $150 million, in an attempt to broaden its anti-infective offerings.
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AstraZeneca said that the deal was an important strategic step providing it with a technology platform in an area of research that complements its internal capabilities in antibacterials. The deal fits with AstraZeneca's decision to re-focus its disease area research. The transaction is expected to close early in 2007.
The anti-viral programs developed by Arrow Therapeutics include several different approaches towards hepatitis C virus (HCV) and respiratory syncytial virus (RSV).
As part of the deal, AstraZeneca has acquired two anti-HCV compounds that both target the novel NS5a protein, including A-831, which is in phase I development. The second compound is RSV604, an anti-RSV compound currently in phase II development and partnered with Novartis.
“Arrow Therapeutics is an excellent opportunity to acquire a world-class anti-viral capability to add to our own antibacterial research capabilities and promising early stage compounds. AstraZeneca is determined to focus on areas of highest unmet needs and we have identified antibacterials and anti-virals as a key opportunity,” stated John Patterson, executive director of development at AstraZeneca.