AstraZeneca Completes Recovery Of Global Rights To Brazikumab From Allergan

(RTTNews) - AstraZeneca (AZN.L, AZN) said the company has completed a previously announced agreement to recover the global rights to brazikumab, a monoclonal antibody targeting IL23, from Allergan. Under the termination deal, Allergan will fund up to an agreed amount, estimated to be the total costs expected to be incurred by AstraZeneca until completion of the development of brazikumab for Crohn's disease and ulcerative colitis.

AstraZeneca noted that, according to the 2012 collaboration between the company and Amgen to jointly develop and commercialise a clinical-stage inflammation portfolio, including brazikumab, Amgen is entitled to receive a high single-digit to low double-digit royalty on sales of brazikumab if approved and launched. This includes the original inventor royalty.