AstraZeneca jettisons another drug, this time grabbing $30M for out-licensing deal
Add one more drug to AstraZeneca’s growing pile of pipeline drugs it’s jettisoning. This time, the deal focuses on an early-stage respiratory drug dubbed AZD7986.
Bridgewater, NJ-based Insmed $INSM grabbed the oral DPP1 drug for $30 million upfront and another $120 million in a grab-bag of development and sales milestones. Insmed recently completed a $55 million debt financing deal and plans to add another $30 million to pay for the acquisition from AstraZeneca.
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