License/Partnership
Failed Drug in Alzheimers and Prostate Cancer Gets Licensed in Europe
Myriad Genetics announced today that it has licensed the European commercialization rights of its phase 3, beta-amyloid reducer (FLURIZAN) to H. Lundbeck A/S today for $100M upfront and $250M in developmental milestones. In addition, they managed to squeeze Lundbeck escalating, 20-39% royalties on sales. One hundred million upfront for the rights to commercialize in Europe alone is pretty spectacular. When you take the status of FLURIZAN into account, the deal gets even better.
FLURIZAN (rough) History
- 2003 - Begin pivotal II/III trial in prostate cancer
- 2003- Begin phase II Alzheimer’s study
- 2005 - Fails to meet primary endpoint in prostate cancer
- 2005 - Fails to meet primary endpoint in AD study (ADAS-cog)
- 2006 - Begin 2, long, phase III AD studies
- 2007 - Prostate Cancer indication officially scrapped
- 2008 - Sells Euro AD rights to Lundbeck for $100M upfront
Simply amazing. As I mentioned in this post, the only thing that matters to the FDA for Alzheimer’s (at this point anyway) is ADAS-cog improvement, which FLURIZAN has already failed. I’m marking my calendar “FLURIZAN Results Month” for the whole of June. This should be fun.
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[...] month after licensing EU rights to Lundbec for $100M upfront (a deal I crapped on by the way), Myriad has discontinued the development of Flurizan for treating Alzheimer’s disease. [...]