Medicis and Anacor collaborate on acne drug development in up to $160 million deal

11 February 2011

US companies Medicis Pharmaceutical (NYSE:MRX) and Anacor Pharmaceuticals (Nasdaq: ANAC) have entered into an R&D agreement to discover and develop boron-based small-molecule compounds directed against a target for the potential treatment of acne.

Under the terms of the deal, Anacor will receive a $7 million upfront payment from Medicis and will be primarily responsible for discovering and conducting early development of product candidates which utilize Anacor's proprietary boron chemistry platform. Medicis will have an option to obtain an exclusive license for products covered by the agreement.

Anacor will be eligible for future research, development, regulatory and sales milestones of up to $153 million, as well as high single-digit to low double-digit royalties on sales by Medicis. Medicis will be responsible for further development and commercialization of the licensed products on a worldwide basis.

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