Shire outsource HIV compound
Shire Pharmaceuticals has out-licensed its HIV compound, SPD754, to Avexa, a publicly-listed Australian specialty anti-infectives company. This is one of the final steps in Shire's divestment programme, designed to ensure focus on later stage pipeline investment in its core therapeutic areas of CNS, gastrointestinal and renal diseases.
Shire Pharmaceuticals has out-licensed its HIV compound, SPD754, to Avexa, a publicly-listed Australian specialty anti-infectives company. This is one of the final steps in Shire's divestment programme, designed to ensure focus on later stage pipeline investment in its core therapeutic areas of CNS, gastrointestinal and renal diseases.
Avexa will take on full responsibility for the worldwide development of SPD754, which is currently in Phase II with an anticipated launch target of 2009, and has the right to commercialise throughout the world, excluding the US and Canada where Shire retains the rights.
Included in the deal and subject to subsequent satisfaction of certain conditions, Shire will take a AU$2m 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.