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Flexion Therapeutics, Inc.
Drug Names(s): FX-005
Description: FX005 is a intra-articular p38-MAPK inhibitor. FX005 is an anti-inflammatory drug-candidate that incorporates analgesic effects and has the potential to modify disease progression.
AstraZeneca and Flexion
In June 2009, Flexion entered into an exclusive license agreement with AstraZeneca for FX005. The agreement grants Flexion an exclusive, royalty-bearing, world-wide right and license (with a right to sublicense) under AstraZenecas patent rights and certain know-how covering FX005.
Flexion paid AstraZeneca a non-refundable fee upon execution of the agreement and will owe up to an aggregate of $17 million upon the achievement of certain regulatory and development milestones for a first licensed product for OA indications or up to an aggregate of $11 million upon the achievement of certain regulatory and development milestones for a first licensed product for non-OA indications. Upon commercialization of a product that results from the technology licensed under the agreement, Flexion will owe AstraZeneca tiered royalty payments on net sales based on a percentage ranging from low to high single digits, depending on the volume of sales of the...See full deal structure in Biomedtracker
Partners: AstraZeneca PLC
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