AVANIR, a pharmaceutical company focused on acquiring, developing, and commercializing novel therapeutic products for the treatment of chronic diseases, announced that it has carried out a definite agreement to sell its collection of human monoclonal anthrax antibodies to Emergent BioSolutions. Emergent also acquired AVANIR’s AVP-21D9 (a fully human monoclonal antibody developed using the Xenerex Technology platform and AVANIR’s lead candidate) as well as other anthrax antibodies. Potentially, AVANIR may receive up to $1.75 million in upfront payments, including royalties on annual net sales if the product goes commercial.
Greg Flesher, Vice President of Business Development for AVANIR Pharmaceuticals said, “Emergent is a proven leader in the area of Biodefense with significant experience in the anthrax field. They have a track record of successfully acquiring development-stage biologics, as well as securing and delivering on significant procurement contracts from the U.S. Government. This transaction places AVP-21D9 in very capable hands.”
Keith Katkin, AVANIR’s President and CEO said, “We are pleased to partner this program with Emergent BioSolutions. This transaction, along with other potential monetization of non-core assets, will provide additional non-dilutive financing and allow us to continue our focus on the ongoing clinical development of our promising Phase III drug candidate Zenvia™ (dextromethorphan/quinidine).”
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