Neoprobe has declared that it has in-licensed AstraZeneca’s global exclusive rights to AZD4694, the latest radiopharmaceutical imaging candidate that will support the diagnosis of Alzheimer’s disease (AD).
AZD4694 is a Fluorine-18 radiopharmaceutical candidate used for imaging and assessment of patients with AD symptoms. It adheres to beta-amyloid deposits present in the brain, which is again imaged by positron emission tomography (PET) scans. Amyloid plaque pathology becomes a part of AD diagnosis, wherein patients that are detected as not having amyloid pathology do not have AD.
The safe and accelerated imaging ability of AZD4694 was demonstrated during clinical studies on over 70 patients. Significantly, AZD4694 has low background and white matter uptake, facilitating clear pictures of Beta-amyloid deposits. Neoprobe focuses to launch a Phase III clinical program in the beginning of 2013, and is also intended on the essential training and safety database. Patents and patent applications regarding AZD4694 will remain effective until 2028.
Agreement based on the in-licensing finance includes a direct payment of $5M to AstraZeneca and a series of important payments including up to $6.5M based on the success with the clinical development and up to additional $11M arrears due to receiving regulatory approvals and its attempt to implement commercial sales. In addition, Neoprobe will pay AstraZeneca royalties on net sales for the approved product. AstraZeneca owns the right of employing AZD4694 for clinical trials thereby facilitating improvement on various treatments for Alzheimer’s disease.