Verge Genomics collaborates with AstraZeneca's Alexion

US clinical-stage biotech Verge Genomics has announced a multi-target collaboration with Alexion, UK pharma major AstraZeneca’s (LSE: AZN) Rare Disease unit to identify novel drug targets for rare neurodegenerative and neuromuscular diseases.

Under the terms of the four-year accord, Verge will receive up to $42 million, consisting of upfront fee, equity, and near-term payments, with a potential deal value of $840 million plus potential downstream royalties.

“By leveraging Verge’s AI-enabled platform in combination with data from patient tissue samples, we see potential in helping researchers more efficiently identify and validate therapeutic targets for rare diseases,” said Seng Cheng, senior vice president, head of research and product development at Alexion. “This collaboration will contribute to Alexion’s science-led innovation and may help accelerate our efforts to transform the discovery and development of new medicines for patients with rare disease,” he added.