Commercialisation agreement
Human tissue supply specialist Asterand plc of Royston, UK, has made an exclusive licence agreement with US healthcare company Allergan, Inc., to commercialise compounds discovered and developed by Asterand to treat glaucoma and related eye conditions.
The compounds are selective small molecule prostaglandin receptor agonists that have been shown in preclinical studies to be effective in reducing intraocular pressure. Allergan will pay an upfront fee of $6.25 million, and in addition Asterand is eligible to receive success-based development and sales milestone payments that could total $56 million, plus royalties on sales.
Martyn Coombs, Chief Executive Officer said this is a very significant financial deal for Asterand. “Allergan has the expertise, reputation and resources to potentially turn these compounds into effective treatments for diseases of the eye, especially glaucoma.”
Asterand says it has several other promising programmes, including further prostaglandin agonists for immuno-inflammatory diseases, including the lung disease chronic obstructive pulmonary disease and psoriasis, and pre-term labour, and other compounds for treating bone disease, cancer, and irritable bowel syndrome.
The company will now put increased effort into realising the value of these programmes, including seeking out-licensing opportunities with other pharmaceutical companies.
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