AstraZeneca PLC said on Monday that it has signed a deal with Allergan PLC AGN, +0.05% worth up to $1.52 billion through its global biologics research and development unit.
The bio-pharmaceutical company said that under the deal, Allergan will have the global rights to an antibody for Crohn’s disease.
Allergan will pay upfront $250 million, but it may also make some payments to AstraZeneca worth up to $1.27 billion, depending on how good the sales of the antibody are, the company said.
By Olga Cotaga
Source: MarketWatch
Decades ago, the founder-led biotech was rare and considered the tougher path to follow. Now there is a trend of founder-led biotechs that have risen in prominence in recent years, going from startup to well known with lightning speed. Scientists-turned C-suite occupants know their technology inside out. They’ve got credibility both at the bench working with their research teams and in the boardrooms selling their future products.
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