Asterand gets $6M+ Allergan milestone

Asterand, a global provider of human tissue and services to pharmaceutical companies engaged in drug discovery research, has entered into an exclusive licence agreement with multi-speciality health care company Allergan, whereby the latter obtains the rights to further develop and commercialize a series of compounds discovered and developed by Asterand to treat conditions and diseases of the eye, such as glaucoma.

The products arise from Asterand's R99 development program. They are selective, small-molecule prostaglandin receptor agonists that have been shown in preclinical studies to be effective in reducing intra-ocular pressure. Allergan plans to further develop a focused list of lead compounds and progress these through clinical development.

Allergan will pay Asterand an upfront technology access fee of $6.25 million. In addition, the firm can receive success-based development and sales milestone payments that could total up to $56.0 million, plus royalties.