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BRIEF-Circassia to secure certain U.S. commercial rights to Tudorza, Duaklir from AstraZeneca
March 17, 2017 / 9:47 AM / in 7 months

BRIEF-Circassia to secure certain U.S. commercial rights to Tudorza, Duaklir from AstraZeneca

March 17 (Reuters) - Circassia Pharmaceuticals Plc

* Proposed collaboration and securing of certain U.S. Commercial rights to Tudorza And Duaklir from Astrazeneca

* Deal for consideration of up to us$230 million

* Deal includes US$50 million in ordinary shares plus future royalties based on Duaklir sales

* Intends to fund deferred and contingent consideration through third-party financing

* Circassia will make research and development contributions of up to US$62.5 million payable to Astrazeneca as deferred payments

* Intends to fund research and development contributions through its returns from commercial collaboration and profit share with Astrazeneca

* Deal anticipated to be earnings enhancing for Circassia after one year and broadly cash neutral for three years, then cash generative Source text for Eikon: Further company coverage:

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