Avanir pockets $10M with AstraZeneca deal

San Diego-based Avanir Pharmaceuticals will pocket $10 million in an up front payment for signing on to a joint collaboration with AstraZeneca to develop new treatments for heart disease. Avanir has been working on Reverse Cholesterol Transport, a naturally occurring process governing the flow of cholesterols. RCT enhancing compounds may be able to improve that process and lower the rate of heart disease by decreasing the buildup of cholesterol. Both biopharma companies will do the research and AstraZeneca will pay the bills. Avanir also stands to gain up to $330 million in milestone payments from any successful product launch.

"We wish to build on our existing strengths and this alliance will open up new opportunities for AstraZeneca in the treatment of cardiovascular disease," said Gunnar Olsson, head of the company's Cardiovascular Therapy Area.

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