Verge Genomics teams up with AstraZeneca in drug discovery deal
Verge Genomics has secured its largest deal yet, linking up with AstraZeneca’s rare disease division Alexion in a deal worth up to $882 million.
The San Francisco biotech said Friday morning that the four-year deal focuses on multiple undisclosed rare neurodegenerative and neuromuscular diseases. AstraZeneca will pay Verge $42 million in a mix of an upfront fee, equity and near-term payments, and it’s also taking an equity stake in Verge.
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