| 2016-10-05 07:00:03|
INSM, AZN 07:00 10/05 10/05/16
Insmed signs licensing agreement with AstraZeneca for DDP1 inhibitor
Insmed (INSM) announced a licensing agreement with AstraZeneca (AZN) for global exclusive rights to AZD7986, a novel oral inhibitor of dipeptidyl peptidase I, or DPP1. DPP1 is an enzyme that catalyzes the activation of neutrophil serine proteases, which play a key role in pulmonary diseases such as non-cystic fibrosis bronchiectasis. Insmed has renamed the compound INS1007 and will pursue an initial indication of non-CF bronchiectasis, a rare, progressive, neutrophil-driven pulmonary disorder in which the bronchi become permanently dilated due to chronic inflammation and infection. The estimated global prevalence of non-CF bronchiectasis exceeds 2 million, of which at least 110,000 cases are in the U.S. There is currently no cure for non-CF bronchiectasis. Insmed is completing its plans for a phase 2 study in non-CF bronchiectasis. The study is expected to begin in 2017. Insmed will pay AstraZeneca an upfront payment of $30M. AstraZeneca will be eligible to receive future payments totaling $120M in future clinical, regulatory, and sales-related milestones. AstraZeneca would also be entitled to receive tiered royalties ranging from a high single-digit to mid-teen. In addition, the agreement provides AstraZeneca with the option to negotiate a future agreement with Insmed for commercialization of AZD7986/INS1007 in chronic obstructive pulmonary disease or asthma.