AnnJi Pharmaceutical Announced A Licensing Agreement With Avenue Therapeutics To Develop And Commercialize AJ201, A First-In-Class Clinical Asset For The Treatment Of Kennedy's Disease
AnnJi Pharmaceutical has entered an exclusive licensing agreement with Avenue Therapeutics (ATXI) to develop AJ201 for spinal and bulbar muscular atrophy (SBMA) in multiple regions, including the U.S., Canada, EU, Great Britain, and Israel. The deal includes an upfront payment of $3 million and potential milestone payments of up to $250 million, plus royalties from net sales. Avenue will issue shares worth 19.99% of its outstanding stock to AnnJi. AJ201 has Orphan Drug Designation from the U.S. FDA and the European Medicines Agency, with safety demonstrated in Phase 1 trials. It is currently undergoing clinical evaluation for Kennedy's Disease.
- Exclusive licensing agreement with Avenue Therapeutics for AJ201 development.
- Upfront payment of $3 million from Avenue, with potential additional milestone payments up to $250 million.
- AJ201 has Orphan Drug Designation from both the U.S. FDA and the European Medicines Agency.
- None.
AJ201 is a novel small molecule new drug and a first-in-class treatment, which has the potential to treat Kennedy's Disease through multiple mechanisms including degradation of the abnormal androgen receptor (AR) protein, which is believed to be the cause of the disease, as well as suppression of proinflammatory cytokines and protection of cells from oxidative stress. Phase 1 clinical trial in healthy subjects has demonstrated the safety of AJ201 in humans. AJ201 is currently being investigated in a multicenter, randomized, double-blind clinical trial in six clinical sites across the
AJ201 has been granted Orphan Drug Designation ("ODD") by the
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