Avanir to receive $5 million milestone payment from AstraZeneca

By Angela McDaniels

Seattle, Jan. 3 - Avanir Pharmaceuticals said a phase 1 study of cholesterol drug AZD2479 has begun, triggering a $5 million milestone payment from AstraZeneca UK Ltd. to Avanir under a research collaboration and license agreement entered into in July 2005.

In the clinical trial, healthy volunteers will be randomized to receive AZD2479 or placebo in ascending single doses in order to evaluate the drug's safety, tolerability and pharmacokinetics.

"It is very gratifying to advance another Avanir-discovered molecule into human trials with the strong Investigational New Drug package our development team delivered," Avanir president and chief executive officer Eric Brandt said in a company news release.

AZD2479 is the lead candidate resulting from Avanir's research program to identify compounds that enhance reverse cholesterol transport, a natural process that involves the flow of cholesterol from peripheral tissues, including the walls of blood vessels, to the liver for metabolism and removal from the body, the company said.

Avanir is a pharmaceutical company based in San Diego that develops and commercializes novel therapeutic products for the treatment of chronic diseases.

London-based AstraZeneca develops, manufactures and markets prescription pharmaceuticals and supplies health-care services.

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