Astrazeneca Closes Global Licencing Deal With Leo Pharma For Tralokinumab
Tuesday, August 16, 2016
AstraZeneca said that it has completed the licensing agreement with LEO Pharma A/S , a specialist in dermatology care, for the global licence to tralokinumab in skin diseases. Tralokinumab is an IL-13 monoclonal antibody that has completed a Phase IIb trial for the treatment of patients with atopic dermatitis, an inflammatory skin disease resulting in itchy, red, swollen and cracked skin.
Upon completion of the deal, LEO Pharma made a payment to AstraZeneca of $115 million for the exclusive, global rights to tralokinumab in atopic dermatitis and any future additional dermatology indications.
As AstraZeneca will retain a significant ongoing interest in tralokinumab, the upfront payment, along with all future commercial milestone and royalty payments, will be reported as Externalisation Revenue in the Company's financial statements.
Source : nasdaq.com
