Medivir has licensed two of its HIV drugs to Presidio Pharmaceuticals. The agreement includes alovudine (MIV-310), a Phase II compound with activity against multidrug-resistant HIV, and MIV-410 a preclinical compound that has a novel mechanism of action against HIV and is also efficacious against cytomegalovirus (CMV).
Phase II studies have shown alovudine to be more efficacious than other nucleoside analogs against multidrug-resistant HIV, reports Medivir. Additionally, recent in vitro results indicate that co-administration of alovudine and zidovudine increases the safety margin.
In preclinical studies MIV-410 demonstrated a novel mechanism of action against HIV, enabling it to retain activity against several HIV mutants with resistance to thymidine analogs and nucleoside analogs.
Presidio will be responsible for the further development of alovudine and MIV-410. Medivir will receive equity in Presidio, milestone payments of at the most $75.25 million, and royalties on sales. Medivir has also retained the right to market and book sales of developed products in the U.K. and Nordic countries and has an option for the same in the remaining countries of the E.U.