Aevi Genomic Medicine Inc. has licensed AstraZeneca PLC unit MedImmune Ltd.'s inflammatory disease drug candidate MEDI2338 for further development and commercialization.
Wayne, Pa.-based Aevi Genomic Medicine will pay MedImmune a mid-single-digit million-dollar amount in cash and equity upon exercising the exclusive global license and will pay up to $162 million upon achievement of certain milestones as well as low double-digit royalties on global annual product sales.
Aevi plans to pursue treatment of Still's disease, a rare autoinflammatory disease, with MEDI2338, beginning with a phase 2 trial, according to Aevi's Aug. 7 press release.
Still's disease occurs in adults with elevated levels of interleukin 18 and causes persistent fever, rash and joint pain, as well as liver, cardiopulmonary and kidney complications.
MEDI2338, a monoclonal antibody that targets interleukin 18, could treat other rare autoinflammatory disorders, as interleukin 18 drives inflammation and immunity characteristic of such diseases, Aevi stated.