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Atea Pharmaceuticals Announces Achievement of AT-527 Development Milestone Under License Agreement with Roche
Milestone in the amount of $50 million realized BOSTON, June 16, 2021 (GLOBE NEWSWIRE) -- Atea Pharmaceuticals, Inc. (Nasdaq: AVIR) (“Atea”), a clinical-stage
About this update from Atea Pharmaceuticals, Inc.
[{"type":"text","content":"Milestone in the amount of $50 million realized\nBOSTON, June 16, 2021 (GLOBE NEWSWIRE) -- Atea Pharmaceuticals, Inc. (Nasdaq: AVIR) (“Atea”), a clinical-stage biopharmaceutical company engaged in the discovery and development of oral therapeutics for severe viral infections, today announced that 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 (SIX: RO, ROG; OTCQX: RHHBY). Under the license agreement, Roche and Atea are jointly developing AT-527 for the treatment of COVID-19. Atea retains rights to commercialize AT-527 in the United States and Roche has the exclusive right to commercialize AT-527 outside of the United States. AT-527 is an orally administered, direct-acting antiviral developmental agent derived from Atea’s purine nucleotide prodrug platform and is in Phase 3 development for the treatment of COVID-19. “Working closely with our strategic collaborator Roche, this achievement is reflective of the continual rapid advancement of the AT-527 program,” said Jean-Pierre Sommadossi, Ph.D., Founder and Chief Executive Officer of Atea Pharmaceuticals. “The realization of this milestone brings us one step closer to our goal of providing an easily administered oral, direct-acting antiviral in the fight against this global pandemic.” Direct-acting antivirals, such as AT-527, aim to prevent disease progression by minimizing or eliminating viral replication and thereby reducing the severity of the disease, preventing or shortening hospitalization, and also potentially preventing transmission of the virus to others. Atea believes this makes AT-527 well-suited for potential use in both pre- and post-exposure prophylactic settings and complementary to vaccines. About the AT-527 COVID-19 Clinical Development Program AT-527 is an orally administered, direct-acting antiviral agent derived from Atea’s nucleotide prodrug platform. AT-527 is currently under evaluation as a treatment for patients with COVID-19. In collaboration with Roche, AT-527 is currently being evaluated in the global Phase 3 MORNINGSKY trial, a global Phase 2 study for hospitalized patients with moderate COVID-19 and a Phase 2 outpatient study in patients with mild or moderate COVID-19. About Atea Pharmaceuticals Atea Pharmaceuticals is a clinical stage ...