AstraZeneca (LSE: AZN, OMXS: AZN, NYSE: AZN) started delivering on its promise to grow externally through several small acquisitions. The Anglo-Swedish pharmaceutical company said in a release that it has made to a merger deal with Ardea Biosciences, Inc (NASDAQ: RDEA) to acquire the California-based biotechnology company for 32 USD per share, valuing Ardea at 1.26 billion USD including cash (1 billion net).
Ardea’s lead product candidate is a URAT1 inhibitor lesinurad (RDEA594) has recently entered into phase 3 studies in the treatment of gout. In the program the drug is being studies as monotherapy and in combination with existing medications (with Allopurinol and with Lesinurad ) and it aims to keep blood uric acid levels better in check. Over 700 patients have already been treated in Phase I/II studies and the drug has shown promise.
The company also has another drug candidate for gout called RDEA3170 ready for Phase II. In addition to this, it has a MEK inhibitor licensed to Bayer Healthcare currently in Phase 2 study for liver cancer and in phase I /II combination study in patients suffering from advanced pancreatic cancer. The licensing deal has a potential value of just over 400 million USD plus low double-digit worldwide royalties.
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