Alexza lands European partner for stymied agitation therapy

With the FDA blocking an approval for Alexza's ($ALXA) anti-agitation treatment Adasuve (AZ-004), the U.S. biotech has forged ahead with a European pact that brings a $10 million upfront payment with it. Spain's Grupo Ferrer also committed to a set of milestones on Adasuve as Alexza takes on responsibility for filing the treatment, which uses an inhaler, with the EMA. Regulators at the FDA rejected the therapy last fall, citing adverse events in early-stage studies. Story