Horizon Entered into an Option Agreement with Q32 Bio to Develop ADX-914 for the Treatment of Autoimmune Diseases
Shots:
- Under the option agreement, Q32 will receive $55M as in initial consideration and staged development funding. Horizon will be responsible to conduct all program-related activities
- Horizon to get an option to acquire the ADX-914 program & will fund development costs upon the completion of the P-II trials & is expected to recognize ~$32.5M in R&D expenses in Q3’22. If Horizon exercises the option, Q32 to receive ~$645M in closing & milestones along with royalties
- In the biomarker-enabled P-I study, ADX-914 showed a pharmacological effect on T cells in healthy volunteers. Additionally, the P-II trial is expected to initiate in 2022 for AD while the P-II trial for the second autoimmune disease in 2023
Ref: Horizon Therapeutics | Image: Horizon Therapeutics
Click here to read the full press release
Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
