AstraZeneca acquires biotech’s unique antithrombotic drug
AstraZeneca has announced that it has entered into a research collaboration, option and asset purchase agreement with APT Therapeutics, a St. Louis, Missouri, based biotech company. The deal focuses on APT’s lead candidate, APT102, a human recombinant apyrase therapy for those suffering from thrombotic diseases.
The deal sees AstraZeneca make an upfront cash payment to APT and will potentially have to pay further milestone payments depending on the success of APT102. AstraZeneca will also fund all further clinical trials to develop the drug.
The reason that APT’s antithrombotic drug is well-placed and of such value to AstraZeneca is due to the fact that unlike current drugs, that increase the risk of bleeding, APT102 is able to reduce clot formation without causing bleeding and can also reduce bleeding associated with current antithrombotic. This is based on clinical studies that have been conducted so far in animals, which is also found that after injection the drug begins working immediately for a duration of at least 24 hours.
"AstraZeneca is a global leader in cardiovascular drug development and marketing with extensive expertise in antithrombotic therapy, which makes it an ideal partner to help us achieve APT102's therapeutic and market potential," said Ridong Chen, president and CEO of APT Therapeutics. "By combining their strengths with our own research and development expertise in human apyrase therapy, we have a great opportunity to develop a breakthrough drug that will safely and substantially improve the lives of millions of patients worldwide."
Marcus Schindler, vice president for cardiovascular and metabolic diseases at AstraZeenca explained the decision behind the acquisition: "The science behind APT102 provides a differentiated opportunity for cardio protection during the critical acute phase after a heart attack or stroke…We are constantly building our portfolio in the cardiovascular disease area with projects and technologies that demonstrate innovative mechanisms of action and are relevant to patients with unmet medical needs.”