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Verus Inks Deal With AstraZeneca Worth Potential $310M

Pharmaceutical giant AstraZeneca acquired three pediatric asthma development programs from Verus Pharmaceuticals Inc., a privately held San Diego company focused on children’s drugs, in a deal worth a potential $310 million.

Verus says the deal included North American rights to market asthma controller Captisol, a medication taken by patients during an asthma attack, and a customized version of eFlow, a delivery device for use with both medications, along with intellectual property rights and related assets.

Under terms of the agreement, announced Sept. 24, Verus will receive an upfront payment of $30 million, development expense reimbursements and up to $280 million on milestone payments.

“The beauty of the deal for us is it clearly validates our strategy of meeting unmet needs,” said Robert Keith, president and chief operating officer of Verus. “It gives us great confidence with respect to the other two emerging products.”

Keith said the deal would allow the company to refocus its time and resources on two emerging pediatric drugs related to atopic diseases and conditions, although he declined to provide further details.

, Heather Chambers

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