Shire will obtain worldwide commercialization rights for AGT-182 for approximately $225 million, including an initial upfront payment of $15 million in cash and equity, an additional equity investment, R&D funding, development and sales milestones, as well as royalty payments. ArmaGen will be responsible for conducting the Phase I/II study, expected to begin this year, after which Shire will be responsible for further clinical development and commercialization.
Dr. Philip J. Vickers, global head of R&D at Shire, said, "Our agreement with ArmaGen marks our continued promise to the Hunter syndrome community to bring novel therapies that have the potential to dramatically redefine the treatment paradigm and address the most critical unmet needs. AGT-182 has the potential to be an important new therapy to our portfolio of programs for the treatment of both the CNS and somatic manifestations of Hunter syndrome. We look forward to collaborating with ArmaGen and leveraging our ability to successfully develop medicines to treat this rare, life-threatening disease."
James Callaway, Ph.D., chief executive officer of ArmaGen said, "Shire is the ideal partner for AGT-182, based on the company's international reach and expertise in serving patients with Hunter syndrome. We look forward to beginning the Phase I/II clinical trial of AGT-182 in collaboration with Shire and leveraging their expertise with these patients."