AstraZeneca is stepping up its deal-making efforts with a pact to acquire Verus Pharmaceuticals' pediatric asthma programs for a potential $310 million. Verus gets $30 million of that up front with $280 million in scheduled milestones. The deal includes the North American rights to Captisol enabled budesonide solution, a short-acting beta agonist solution, a customized version of eFlow for use with both medications, and other IP.
"This transaction allows us to refocus our time and resources on our other emerging development programs, including those targeting unmet needs associated with related atopic diseases and conditions," said Verus president Robert W. Keith. Verus was a 2005 Fierce 15 company.
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PLUS: AstraZeneca wants some fresh eyes on its financial challenges. The drug maker is casting outside of pharma for a new CFO to replace Jon Symonds, who quit abruptly in June to join Goldman Sachs. Report
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