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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