AstraZeneca has announced plans to acquire all rights to Orexo´s leukotriene C4 synthase inhibitor programme, OX-CLI project, for $5m.

The company partnered with Orexo AB for OX-CLI in 2013 and maintained an option to acquire all rights in the programme.

AstraZeneca has chosen to exercise its option as the programme has advanced into pre-clinical development with an identified development compound (candidate drug).

OX-CLI aims to develop drugs to treat respiratory disorders such as asthma and COPD.

AstraZeneca RIA innovative medicines unit vice-president Maarten Kraan said: "Pushing the boundaries of science to transform disease management and improve asthma patient outcomes is central to our respiratory strategy, and the OX-CLI compounds could enable us to offer a completely new personalised treatment for patients whose condition is caused by the dysregulation of leukotrienes.

"I am particularly pleased to see this new collaboration come to fruition as it could help to further strengthen the Nordic Life Science eco-system."

AstraZeneca has been carrying out all research and development activities and investments since 2013 and will continue the drug development without further involvement of Orexo.

Orexo may also receive milestone payments in the future when OX-CLI meets defined development and commercial objectives.

It will also receive a tiered single digit royalty on future net-revenue associated to sales of products based on the programme.

Orexo CEO Nikolaj Sørensen said: "We look forward to follow the continued product development of OX-CLI, which we believe has the potential to become an important new medication in the treatment of respiratory diseases."