ASTRAZENECA SIGNS LICENSING AGREEMENT WITH NORTRAN

Under the terms of the agreement, AstraZeneca will pay Nortran an upfront payment upon execution of the agreement. In addition, AstraZeneca will pay for further milestone payments linked to the achievement of specific development and commercialisation targets. The agreement includes a provision for the payment of royalties at a rate that will increase according to the level of product sales achieved. AstraZeneca will assume responsibility for the world-wide development and commercialisation of this promising antiarrhythmic agent.

"We are pleased to initiate this agreement with Nortran. The drug that we have in-licensed has an important role in our antiarrhythmic program and has exciting potential for the treatment of atrial fibrillation/flutter. This in turn will further strengthen our cardiovascular portfolio," stated Dr Hamish Cameron, Vice President and Head of Cardiovascular Therapy Area.

Nortran Pharmaceuticals is a drug discovery company focused on cardiovascular and respiratory applications of ion channel modulating drugs.

Bob Rieder, President and Chief Executive Officer of Nortran, said "This partnership is by far the most significant since Nortran's inception in 1992, and represents a significant milestone for the company. AstraZeneca has a proven track record of successful developments in the cardiovascular area and Nortran looks forward to working with AstraZeneca to ensure success of this project."

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