AtheroGenics IPR Astrazeneca License and Collaboration Agreement of December 21, 2005

AtheroGenics IPR Astrazeneca License and Collaboration Agreement of December 21, 2005 won the 2006 Scrip Awards for Best Partnership Alliance.

From the press release:

• upfront fee of $50 million
• development and regulatory milestones of up to $300 million
• progressively demanding sales performance related milestones of up to a further $650 million
• if successfully commercialized, AtheroGenics will be eligible for fees and milestones of up to $1 billion
• stepped royalties on product sales
  

Commercialization of AGI-1067 would also provide AtheroGenics with additional resources to begin its transition from a research and development organization to a commercial enterprise.

AstraZeneca will fund for a minimum of three years a 125-person AtheroGenics specialty sales force focused on the cardiology field in the U.S., which will co-promote both AGI-1067 and one other of AstraZeneca’s key cardiovascular drugs during that time.

AtheroGenics will retain responsibility for the ongoing ARISE Phase III clinical trial and for regulatory filings in the U.S.

AstraZeneca will have full responsibility for pre-commercialization activities involving the compound and oversee all aspects of the marketing, sales and distribution of AGI-1067 on a worldwide basis.

AstraZeneca will also be responsible for all non-U.S. regulatory filings.