Subject: CON
Avillion Signs Co-Development Agreement with Pearl Therapeutics Inc. (part of AstraZeneca) to Conduct Clinical Development of PT027 in Asthma
LONDON, March 13, 2018 /PRNewswire/ --
Avillion, a drug development company focused on the co-development and financing of pharmaceutical candidates from proof-of-concept through to regulatory approval, has signed a clinical co-development agreement with Pearl Therapeutics Inc., a wholly owned subsidiary of the AstraZeneca Plc group, to advance PT027 through a global clinical development programme for the treatment of asthma.
PT027 is an investigational fixed dose combination of budesonide (an inhaled corticosteroid) and albuterol (a short-acting beta-2 agonist). Avillion will be responsible for developing PT027 through an extensive clinical development programme and will finance the programme through to regulatory approval. No financial terms are disclosed.
Allison Jeynes-Ellis, MD, Chief Executive Officer of Avillion, said: "This new collaboration is another great example of how our innovative clinical development model and exceptional operational capabilities can be used to bolster the productivity of our partners' development pipeline. We have already demonstrated the success of our approach in our partnerships with Pfizer and Merck KGaA. We are looking forward to initiating this exciting clinical development programme for PT027 in asthma."
About Avillion
Avillion is a drug development company with an innovative business model focusing on the clinical co-development and regulatory approval of pharmaceutical products. Avillion offers a compelling opportunity to partner assets from post proof-of-concept through to regulatory approval globally and to accelerate their development and hence availability to patients. Avillion's objective is to enable its partners to continue to develop the drug candidates in their pipeline whilst maintaining quality data, and without increasing financial burden. Avillion can achieve this by incurring 100% of the clinical and regulatory risk, while advancing the development of these assets in return for milestone and royalty payments on the commercialisation of successfully developed products.
To date, Avillion has entered into co-development agreements under both US and EU accounting principles (GAAP and IFRS). The company has advanced Pfizer's BOSULIF® (bosutinib) successfully through Phase 3 trials and provided the clinical data used to gain accelerated US approval to expand its use in patients with chronic myeloid leukaemia. Avillion is also undertaking a global clinical programme with Pearl Therapeutics (a wholly owned subsidiary of AstraZeneca) with PT027 in asthma and Phase 2 trials with Merck's anti IL-17 A/F Nanobody® in plaque psoriasis.
Avillion was founded in 2012 and is backed by Abingworth, Clarus Ventures and Royalty Pharma.
"Avillion" is Bond Avillion 2 Development LP.
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