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ExonHit, Allergan Expand Drug-Discovery Alliance; ExonHit Pockets $2M

NEW YORK, May 17 (GenomeWeb News) - ExonHit Therapeutics and Allergan have extended a drug-discovery and -development collaboration for neurodegenerative diseases, pain, and ophthalmology, the firms said today.

 

Terms of the expanded alliance call for Allergan to pay ExonHit $2 million.

 

The original collaboration was initiated in 2003. It called for ExonHit to help Allergen discover and develop drug targets by analyzing "RNA splicing events."

Under the terms of the collaboration, ExonHit receives financial support in the form of on-going R&D payments as well as payments for drug candidates achieving certain development milestones.

 

Additionally, ExonHit is set to receive co-development and co-commercialization options in therapeutic areas outside of Allergan's key strategic areas and royalties. Profit-sharing on commercialized drugs is also an option, the company said.