Updated on 27 February 2015
Orca will receive an upfront payment and further milestone payments from AstraZeneca with a potential total value of $122.5 million
Singapore: British biotech giant, AstraZeneca has struck a three year deal with start-up firm Orca pharmaceuticals to boost research on autoimmune diseases.
As per the terms, Orca will receive an upfront payment and further milestone payments from AstraZeneca with a potential total value of $122.5 million, the companies said in a meeting, recently.
Further payments will be made depending on success of Ocra's retinoic acid related orphan nuclear gamma receptor inhibitors. The deal will help in beefing up AstraZeneca's existing pipeline for autoimmune diseases.
"We are delighted to be partnering with Orca Pharmaceuticals in this hot area of immunology science to help us create potentially best-in-class chemical assets and candidate drugs for patients who currently do not have any oral medicines available to treat their chronic conditions," said, Mr Maarten Kraan, head of AstraZeneca's autoimmune research.