Archemix and Elan entered into multiyear, multiproduct alliance to focus on the discovery, development, and commercialization of aptamer therapeutics to treat automimmune diseases. The initial targets will include IL-23, a acytokine that has emerged as a mediator in the chronic autoimmune inflammatory diseases. The collaboration combines Archemix’ expertise with aptamer therapeutics with Elan’s experience in the development of therapies for autoimmune diseases.

Under the terms of the agreement, Archemix will receive an upfront payment of $7 million and depending upon the number of products successfully commercialized, Archemix can receive milestone payments in excess of $350 million.

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