Millendo gains license to AstraZeneca PCOS drug candidate
Millendo Therapeutics, a University of Michigan, USA, start-up company, announced an exclusive license agreement with Anglo-Swedish pharma major AstraZeneca (LSE: AZN) for the worldwide development and commercialization rights to test a new compound, MLE4901, for the treatment of polycystic ovary syndrome (PCOS).
Millendo acquired global rights to develop and commercialize MLE4901 (previous code AZD4901), a Phase II neurokinin 3 receptor, in return for an undisclosed upfront payment to AstraZeneca an upfront payment, plus payments tied to development and commercial milestones. AstraZeneca is eligible to receive royalties on net product sales, and also took an undisclosed equity stake in Millendo. There are no approved therapies for PCOS, which affects up to 15% of women, the company noted.
Secures $62 million funding
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