AstraZeneca raises $200M from its latest asset sale; Austin-based Lung Therapeutics raises $14M in venture cash
→ AstraZeneca has sold the rights to its migrane drug, Zomig for $200 million upfront and $102 million in milestones. Germany-based Grünenthal will gain the rights to market and sell the drug outside of Japan. The sale comes as the AstraZeneca is aiming to mount a comeback and refocus on oncology, which it emphasized at ASCO last weekend. In the meantime, the pharma giant has been selling off a string of non-core or disappointing therapies to raise cash.
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