Horizon Entered into an Option Agreement with Q32 Bio to Develop ADX-914 for the Treatment of Autoimmune Diseases
- Under the option agreement, Q32 will receive $55M as in initial consideration and staged development funding. Horizon will be responsible to conduct all program-related activities
- Horizon to get an option to acquire the ADX-914 program & will fund development costs upon the completion of the P-II trials & is expected to recognize ~$32.5M in R&D expenses in Q3’22. If Horizon exercises the option, Q32 to receive ~$645M in closing & milestones along with royalties
- In the biomarker-enabled P-I study, ADX-914 showed a pharmacological effect on T cells in healthy volunteers. Additionally, the P-II trial is expected to initiate in 2022 for AD while the P-II trial for the second autoimmune disease in 2023
Ref: Horizon Therapeutics | Image: Horizon Therapeutics
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