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Letairis

Gilead Sciences, Inc.

Drug Names(s): Volibris, ambrisentan

Description: Letairis is a member of a class of therapeutic agents known as endothelin receptor antagonists, or ETRAs, that can be orally administered. It selectively blocks endothelin A receptors. Endothelin is a small peptide hormone that is believed to play a critical role in the control of blood flow and cell growth.

Deal Structure: In October 2001, Myogen entered into a license agreement with Abbott Laboratories (Abbott) under which Myogen received an exclusive worldwide license to develop and commercialize Volibris. In consideration for the license, Myogen paid Abbott initial license fees totaling $5.8 million, paid a milestone fee of $1.5 million upon the initiation of the ARIES trials and paid an additional $690,000 related to an additional feasibility and evaluation study performed on our behalf. If it successfully develops Volibris in PAH, Myogen will be required to make additional milestone payments totaling $4.5 million as well as royalties based on net sales of Volibris. If it fails to commercialize Volibris in certain markets, Abbott may market the product on its own in the affected countries, paying Myogen a royalty on its sales. Myogen will be obligated to make additional milestone payments if it develops ambrisentan in additional indications. However, in no event would it be obligated to pay more...See full deal structure in Biomedtracker

Partners: GlaxoSmithKline plc AbbVie Inc.


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