HIV Compound SPD754 Out-Licensed to Anti-Infectives Specialist, Avexa Ltd
Shire Pharmaceuticals Group plc announced that it has out-licensed its HIV compound, SPD754, to Avexa Limited, a publicly-listed Australian specialty anti-infectives company.
This is one of the final steps in Shire's divestment program - designed to ensure focus on later stage pipeline investment in its core therapeutic areas of CNS, gastrointestinal and renal diseases. In the last 12 months, Shire has had six projects in its core areas approved by regulators.
Avexa will take on full responsibility for the worldwide development of SPD754 in accordance with an agreed development plan. SPD754 is currently in Phase II with an anticipated launch target of 2009. Avexa has the right to commercialize SPD754 throughout the world, excluding North America (USA and Canada), where Shire retains the right to commercialize the product. An undisclosed reciprocal royalty will be payable. Included in the deal and subject to subsequent satisfaction of certain conditions, Shire will take a AUD$2 million equity position in Avexa, subject to Avexa shareholder approval, and will also have an option to acquire four million more shares following the successful completion of the Phase IIb trial.
SPD754 is a nucleoside analogue and part of a class of drugs known as NRTi. NRTis represent the major class of HIV therapeutics and the drugs of first choice in the treatment of HIV. Currently reverse transcriptase inhibitors represent over 50% of the global sales of HIV drugs which in 2004 was in excess of US$6 billion.
Other news from the department science
