AtheroGenics has struck one of the richest licensing deals of the year with AstraZeneca, agreeing to pocket $50 million up front with a potential $300 million in milestones for the successful development of its experimental drug to treat atherosclerosis. The deal also outlines a potential $650 million in revenue from future sales milestones. AGI-1067 blocks the inflammatory response involved in atherosclerosis.
"The benefit of this collaboration goes well beyond the obvious financial rewards and gives us the opportunity to access AstraZeneca's commercial expertise as we establish our own sales and marketing group in preparation for the next phase of our corporate growth," said Russell M. Medford, M.D., Ph.D., president and CEO of AtheroGenics.
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