AtheroGenics, AstraZeneca waiting period ends for license; AtheroGenics to get $50 million payment

By Lisa Kerner

Erie, Pa., Jan. 30 - AtheroGenics, Inc. said that early termination of the Hart-Scott-Rodino Antitrust Improvements Act waiting period has been granted for its exclusive licensing agreement with AstraZeneca, triggering a $50 million payment to AtheroGenics.

The two companies can now actively begin the worldwide development and commercialization of AGI-1067, AtheroGenics' phase 3 compound for the treatment of atherosclerosis.

AstraZeneca will pay AtheroGenics a $50 million upfront payment as a result of the early termination, according to a company news release.

Atlanta-based AtheroGenics is a pharmaceutical company focused on the treatment of chronic inflammatory diseases. Its lead compound, AGI-1067, is being evaluated in the pivotal phase 3 clinical trial as an oral therapy for the treatment of atherosclerosis, in collaboration with AstraZeneca.

AstraZeneca is a London-based pharmaceutical company.

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