Pharmaceuticals giant AstraZeneca today revealed a $400m (£309m) deal with Japanese drug firm Takeda to jointly develop and commercialise a potential treatment for Parkinson's disease.
MEDI1341 is an antibody treatment which is currently in development and due to enter phase one clinical trials later this year. Parkinson's is the most common neurodegenerative disease after Alzheimer's.
Under the agreement, Astra will lead phase one development while Takeda will lead future clinical developments. Takeda will pay Astra up to $400m including initial revenue in 2017 and development and sales milestones thereafter.
Mene Pangalos, executive vice president at AstraZeneca, said:
Takeda has an excellent track record in neuroscience research and we are excited to be working together.
By combining our scientific expertise and sharing the risks and cost of development, we hope to accelerate the advancement of MEDI1341 as a promising new approach to support the treatment of people with Parkinson’s disease around the world.
The firm also today announced the US Food and Drug Administration (FDA) had approved its breast cancer drug Faslodex for expanded use. The hormonal therapy drug can help to slow cancer growth.
Cancer is AstraZeneca's main focus whereas Takeda has a strong track record in neuroscience. Astra is aiming to partner with other drugmakers as it looks to focus on its priority areas.