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FX007

Flexion Therapeutics, Inc.

Drug Names(s): FX-007

Description: FX007 is a small molecule TrkA receptor antagonist. TrkA is the receptor for nerve growth factor, commonly known as NGF, a small peptide that is released following tissue injury.

In preclinical pharmacology studies, FX007 has demonstrated high affinity for the TrkA receptor, resulting in analgesic effects in osteoarthritis (OA) and post-operative pain. Persistent and systemic blockade of NGF with monoclonal antibodies has been associated with rapidly progressive OA requiring total joint arthroplasty, or TJA. To avoid this, FX007 is being developed for acute, local administration.

Deal Structure: AstraZeneca and Flexion
In September 2010, Flexion entered into an exclusive license agreement with AstraZeneca for FX007. The agreement grants Flexion an exclusive, royalty-bearing, world-wide right and license (with a right to sublicense, subject to certain conditions described below) under AstraZenecas patent rights and certain know-how covering FX007.

Flexion paid AstraZeneca a non-refundable fee following execution of the agreement and will owe up to an aggregate of $21 million upon the achievement of certain regulatory and development milestones for a first licensed product for OA indications or up to an aggregate of $15 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 single...See full deal structure in Biomedtracker

Partners: AstraZeneca PLC


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