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Orexo enters research agreement with AstraZeneca

The two companies have entered an agreement regarding a preclinical program for a potential novel treatment of respiratory diseases (OX-CLI). Orexo grants to AstraZeneca rights to conduct further preclinical research and evaluation of compounds in Orexo’s OX-CLI program. AstraZeneca also has an option to acquire the compounds pertaining to the program, subject to a full asset transfer agreement being executed by the parties, under which Orexo will receive development milestones and royalties on future revenues.
“Our OX-CLI program is a promising R&D project, which has the potential to improve the treatment of respiratory diseases for millions of patients. AstraZeneca is the optimal partner for OX-CLI and we look forward to seeing the project advancing,” says CEO Anders Lundström.

Terminated agreement with Novartis

The company recently had a backlash though. Orexo announced a couple of days ago that the company’s license agreement with Novartis has been terminated. The OX17 program was aimed for the treatment of gastroesophageal reflux disease (GERD) and is still in early clinical phase. Novartis AG had sent a notice of termination of the license agreement dated August 27, 2009. According to Orexo, the termination of OX17 will have no impact on the financial position.