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Alcon and AstraZeneca to Collaborate on Eye Drug Development
2009 AUG 3 - (NewsRx.com) -- Alcon (NYSE: ACL) announced that it has entered into a five-year collaborative research agreement with AstraZeneca for the exclusive ophthalmic discovery and potential development rights to AstraZeneca's compound library. The agreement matches Alcon's specific ophthalmic research capability with AstraZeneca's rich drug libraries and covers multiple classes of small molecules with lead compounds that already have been identified to have a strong scientific rationale for utility in ophthalmic disease. The two companies are targeting development of drugs to treat sight-threatening conditions such as glaucoma, wet and dry age-related macular degeneration and other retinal diseases, as well as ocular allergy, dry eye and other inflammatory eye conditions. "Our agreement with AstraZeneca stems from our strategy of enhanced access to sources of technologies and compounds through partnership with leading biomedical research organizations," said Sabri Markabi, M.D., Alcon's senior vice president of research and development and chief medical officer. "The combination of AstraZeneca's broad capabilities in discovery and Alcon's scientific expertise in eye disease provides potential for therapies that fulfil unmet medical needs in ophthalmology." "Alcon and AstraZeneca share a common goal to use leading-edge science to deliver medicines that will benefit patients," said Jan Lundberg, AstraZeneca's executive vice president of global discovery research. "We are constantly looking for new opportunities to maximize our strong early pipeline and this collaboration is proof of its value beyond the therapy areas for which AstraZeneca is renowned." Under the terms of the agreement, Alcon obtains immediate access to thousands of AstraZeneca compounds in a variety of drug classes. AstraZeneca will hand over development and regulatory documentation associated with each compound as relevant to ophthalmology. Alcon will perform and fund all research and development activities to move selected compounds forward. The agreement provides for individual license agreements to be negotiated on a case by case basis for any compound that moves into clinical development, including regulatory milestone payments and royalties on product sales. The agreement does not preclude Alcon from pursuing compounds it develops itself or licenses from other companies prior to the initiation of Phase III confirmatory clinical studies. Keywords: , Health, Optical, Pharmaceutical, Research, Science, Age-Related Macular Degeneration, Allergies, Allergy Medicine, AstraZeneca, Bioengineering, Biomedical Engineering, Biomedicine, Drug Development, Eye Disease, Genetics, Glaucoma, Macular Degeneration, Marketing and Licensing Agreements, Ophthalmic Disease, Ophthalmology, Pharmaceutical Business, Pharmaceutical Company, Retinal Disease, Therapy, Treatment, Alcon Inc. This article was prepared by Pain & Central Nervous System Week editors from staff and other reports. Copyright 2009, Pain & Central Nervous System Week via NewsRx.com.
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