Achillion Pharmaceuticals (ACHN) Up On Revised Partnership
Achillion Pharmaceuticals (ACHN) and Gilead Sciences entered into an amendment to their Research Collaboration and License Agreement, dated November 24, 2004 under which Achillion and Gilead agreed to jointly develop compounds for use in treating hepatitis C infection which inhibit viral replication through a specified novel mechanism of action called NS4A antagonism.
Under the License Agreement, the Company and Gilead have been working together to develop one or more compounds for use in treating hepatitis C infection until proof-of-concept in one compound, as defined, is achieved. The current lead compound from the collaboration, ACH-1095, also known as GS 9525, is currently in late-stage preclinical assessment.
ACHN is up 7% on the news to $1.69.
Douglas A. McIntyre
