BRIEF --Roivant to develop AstraZeneca deprioritized compound

Switzerland-based Roivant Sciences it has entered into a development partnership with AstraZeneca for a deprioritized investigational drug in an undisclosed indication, in what is the first collaboration between the two companies.

The drug will be developed by Roivant in a new therapeutic area that is outside of AstraZeneca's main therapy areas. Roivant has licensed global rights for its development and commercialization; deal terms include an upfront payment, development milestones, and royalties.

"This deal is another example of how AstraZeneca collaborates with industry in an open manner to expedite the delivery of novel medicines to patients," said Kumar Srinivasan, vice president of scientific partnering and alliances with AstraZeneca's Innovative Medicines and Early Development (IMED) Biotech unit.