Astra paying $10M milestone for ADHD drug
AstraZeneca P.L.C. said it had agreed to make a $10 million milestone payment to Targacept because the two companies plan to conduct further development of AZD3480.
AstraZeneca, a British company whose U.S. headquarters are in Wilmington, said it would begin Phase IIb studies on the drug to treat attention deficit/hyperactivity disorder.
AstraZeneca also plans to continue development of AZD1446 for Alzheimer's disease.
AZD1446 is currently in Phase 1 and was discovered in the ongoing AstraZeneca-Targacept research collaboration.
For Alzheimer's disease, AstraZeneca has prioritized development of AZD1446 over further development of AZD3480. - Miriam Hill
