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Aevi Genomic Medicine licenses inflammation drug from AstraZeneca's MedImmune

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.