By Sabela Ojea

AstraZeneca PLC said Tuesday that its rare disease group Alexion has closed an exclusive global deal and license agreement with Neurimmune AG to commercialize NI006, an investigational antibody in Phase 1b aimed at treating a cardiomyopathy.

The Anglo-Swedish pharma giant said that Alexion has agreed to make an upfront payment to Neurimmune of $30 million, adding that Neurimmune will continue to be responsible to complete the current phase of the trial while Alexion pays certain trial costs.

"Alexion will make additional contingent milestone payments of up to $730 million upon achievement of certain development, regulatory and commercial milestones. It will also pay low-to-mid teen royalties on net sales of any approved medicine resulting from the collaboration," the FTSE 100 listed company said.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

March 01, 2022 02:38 ET (07:38 GMT)

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