AtheroGenics plots next move as AZ dumps AGI-1067

AstraZeneca has abandoned its collaboration with AtheroGenics on its cardiac drug AGI-1067 after the drug failed to perform better than a placebo in a Phase III clinical trial last month. AstraZeneca paid a $50 million licensing fee for development rights to the therapy, which now revert back to AtheroGenics. AtheroGenics says it will announce its plans for the drug after a full review of its options. But the developer shows no sign of backing away from the therapy, which failed its primary endpoint but hit certain predefined endpoints in its trial.

"Based on our analysis of the data and discussions we've had to date with clinical and regulatory experts, we remain committed to further developing AGI-1067," said Dr. Russell M. Medford, president and CEO of AtheroGenics. "AtheroGenics has the financial resources to continue the development of AGI-1067, and we look forward to providing more detailed plans in the coming weeks."

- check out the release
- read the report on the breakup from the Atlanta Business Chronicle 

Related Articles:
AtheroGenics inks billion-dollar licensing deal. Report
Speculation heats up on fate of AGI-1067. Report
AtheroGenics to deliver late-stage data on AGI-1067 in March. Report

Suggested Articles

The clamor for more transparency from the leading pandemic vaccine contenders has been getting louder.

The role gives one of the driving forces behind Bristol Myers Squibb’s $74 billion takeover of Celgene the chance to help build biotechs.

The appointment gives Sino-American biotech Brii the experience of a man who helped Gilead launch eight drugs in China in quick succession.