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news.AstraZeneca and Amgen have entered into an agreement to develop and commercialize five monoclonal antibodies from Amgen's clinical inflammation portfolio.
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As per the agreement, AstraZeneca will pay $50m to Amgen and both the companies will share costs and profits.
Based on present plan, approximately 65% of costs for the 2012-2014 will be funded by AstraZeneca, after which the companies will split costs equally.
With the collaboration, Amgen will gain additional resources to advance its portfolio and will take advantage of the asthma, inflammation and respiratory development knowledge of MedImmune, AstraZeneca’s biologics arm.
AstraZeneca will lead the development and commercialization strategy of AMG 139, AMG 157 and AMG 181, while Amgen will lead the development and commercialization strategy of brodalumab and AMG 557.
Amgen will promote in dermatology indications in the US and Canada, and in rheumatology indications in US, Canada and Europe.
AstraZeneca will promote in respiratory and, initially, in dermatology indications of brodalumab across all territories outside of the US, Canada and those markets where Amgen has existing partnerships.
Amgen chairman and CEO Kevin Sharer said: "We believe this collaboration has the potential to bring more therapies to patients sooner, across more geographic areas."