27th Feb 2015 10:22
LONDON (Alliance News) - AstraZeneca PLC will invest USD40 million to spin-out a small molecule early stage anti-infectives unit, to focus of the research and development of its early-stage antibiotic pipeline.
In an emailed statement AstraZeneca said that it expects the new company to be led by and include staff from its Innovative Medicines Unit.
The spin-out will affect around 95 employees based in Waltham, Massachusetts, AstraZeneca said. It expects some of the researchers will take up roles in the new company, or in other parts of AstraZeneca.
"AstraZeneca continues to be committed to research and development in this important area of public health, and the decision does not affect the company?s late-stage small molecule infection programmes or MedImmune?s portfolio of biologic anti-infectives," AstraZeneca said in the statement.
"The new structure also has no impact on the on-market products including Merrem, Zinforo, Fluenz/Flumist and Synagis. AstraZeneca continues to progress its late-stage small molecule infection programmes, notably CAZ-AVI, while at the same time exploring partnership opportunities to ensure these potential new treatments reach patients as quickly as possible," AstraZeneca added.
Shares in AstraZeneca are trading down 0.1% at 4,461.00 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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