Published on January 22, 2007 at 5:15 PM
Shire plc has announced that it licensed the North America (U.S. and Canada) rights for the investigational HIV compound, SPD754 (also known as apricitabine), to the Australian biotechnology company Avexa Limited in return for an up-front payment of US$10 million, development and sales related milestones and royalties.
Shire will also receive 8 million additional Avexa shares as part of this agreement, taking its shareholding in Avexa to just over 8%.
In January 2005, Shire licensed the right to develop and commercialise apricitabine throughout the world (excluding North America) to Avexa. This agreement gives Avexa the full responsibility for the worldwide development and commercialisation of this product.
"We are very happy with Avexa's progress in developing apricitabine" stated Barbara Deptula, Shire's Executive Vice President, Business Development "and look forward to continuing this positive collaboration as the product progresses through the development process to full commercialisation".