Abbott announced Wednesday that it entered into a licensing deal for the global development and marketing rights to Neurocrine Biosciences' elagolix for the treatment of endometriosis-related pain in a deal worth up to $575 million. According to the drugmakers, elagolix is a first-in-class oral gonadotropin-releasing hormone (GnRH) antagonist.
In addition to elagolix, Abbott will also gain the rights to Neurocrine's other next-generation GnRH antagonists for women and men's health. Under the terms of the agreement, Abbott will make an upfront payment of $75 million to Neurocrine, which is also eligible to receive milestones of around $500 million in addition to royalty payments on any future product sales.
Last month, Neurocrine reported positive data from a Phase II trial of elagolix in patients with endometriosis, and said that the compound would be ready for Phase III trials later in the year. The companies noted that the drug will also be evaluated for the treatment of uterine fibroids.
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