Avillion to advance development of AZ subsidiary asthma drug
Avillion, the UK-based firm that co-develops and finances drug candidates from proof-of-concept through to regulatory approval, has signed an agreement over an asthma asset that belongs to Pearl Therapeutics, a wholly-owned subsidiary of Anglo-Swedish pharma major AstraZeneca (LSE: AZN).
Founded in 2012, Avillion is able to boast that it advanced Pfizer’s (NYSE: PFE) Bosulif (bosutinib) successfully through Phase III trials and provided the clinical data used to gain accelerated US approval to expand its use in patients with chronic myeloid leukemia, and is working with German drugmaker Merck KGaA (MRK: DE) in plaque psoriasis.
The agreement with Pearl Therapeutics is for the advancement of PT027, an investigational fixed-dose combination of the inhaled corticosteroid budesonide and albuterol, a short-acting beta-2 agonist, through a global clinical development program.
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