According to an Asia Pulse report, the Melbourne-based biotech company signed a joint collaboration agreement with U.S.-based pharmaceutical Merck at $112 million, excluding royalties on product sales.
Amrad has been working with Merck for two years.
Amrad Interim chief executive Andrew Nash is upbeat after winning the patent. He says getting the patent shows Amrad's capacity to contribute to the commercialization process.
He says, "The granting of this U.S. patent is an important commercial milestone for Amrad and Merck. It provides market exclusivity in the world's most important pharmaceutical market."
Amrad has already received $15 million.
Both Amrad and Merck have been busy developing drugs to diminish the effects of the so-called IL-13 receptor on the lung.
