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WuXi AppTec, Inc. and AstraZeneca PLC (AZN) Form Drug Development JV


9/11/2012 10:58:28 AM

September 10, 2012 -- WuXi AppTech has formed a drug development JV with MedImmune, the biologics subsidiary of AstraZeneca. The JV will own China rights to MEDI5117, a novel monoclonal antibody that is being developed to treat rheumatoid arthritis along with other autoimmune and inflammatory diseases. WuXi will be paid for its development services, while MedImmune will receive payments when the drug achieves milestones. AstraZeneca has the right to buy back China commercialization rights for the drug. If it chooses not to do so, the JV will commercialize the drug in China. More details....

Stock Symbols: (NYSE: WX) (NYSE: AZN)


Read at ChinaBio Today

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