AstraZeneca Dumps Off Mid-Stage Cardiovascular Drug To Regio Biosciences

AstraZeneca plc (NASDAQ:AZN) has granted exclusive development and commercial rights to Regio Biosciences for REG-101, a cardiovascular drug.

• The drug will enter Phase 2a trials for peripheral artery disease (PAD) in 2H of 2022.
• Regio will take on all R&D and marketing costs for REG-101, previously known as MEDI5884, with financial backing from Hibiscus Capital Management and Innoforce. 
• The molecule came from Medimmune, a formerly separate division AstraZeneca bought for $15.6 billion in 2007.
• Related: AstraZeneca's MEDI5884-PCSK9 Inhibitor Combo Shows Promise In Heart Disease.
• The drug targets endothelial lipase to cut plaque levels in PAD and other CV diseases.
• Along with the Phase 2a study in PAD, Regio is also pursuing mid-stage studies for REG-101 in coronary artery disease.
• Price Action: AZN shares are down 2.96% at $57.27 during the market session on the last check Thursday.