By Chris Wack
Atea Pharmaceuticals Inc. said it has achieved a milestone associated with the development of AT-527, and expects to receive a related payment under its license agreement with Roche of $50 million.
Under the license agreement, Roche and Atea are jointly developing AT-527 for the treatment of Covid-19.
AT-527 is an orally administered, direct-acting antiviral developmental agent derived from Atea's purine nucleotide pro-drug platform, and it is in Phase 3 development for the treatment of Covid-19, Atea said.
Atea retains rights to commercialize AT-527 in the U.S., and Roche has the exclusive right to commercialize AT-527 outside the U.S.
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(END) Dow Jones Newswires