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news.AstraZeneca is ending its collaboration with AtheroGenics to develop and commercialize heart drug AGI-1067, which recently failed to meet its primary endpoint in a phase III study.
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AtheroGenics will reacquire all worldwide rights for AGI-1067 and will continue to develop the compound, the company said. AstraZeneca is responsible for providing transition support to AtheroGenics.
“Based on our analysis of the data and discussions we’ve had to date with clinical and regulatory experts, we remain committed to further developing AGI-1067,” said Russell Medford, president and CEO of AtheroGenics.
AstraZeneca hedged its bets with AGI-1067 and of the $1 billion deal with AtheroGenics; so far only an upfront initial payment of $50 million has been paid. The drug failure represents the latest in a string of recent disappointments for AstraZeneca, following Exanta, Galida and Cerovive all being abandoned in 2006.