AstraZeneca Buys Verus Program

Verus Pharmaceuticals Inc. has sold its pediatric asthma development programs to AstraZeneca PLC. The deal includes a $30 million upfront payment, plus the possibility of a $280 million earnout payment. Verus raised a $78 million Series A round back in 2005, from Domain Associates, Prospect Venture Partners, Paul Royalty Fund, MPM Capital, Montreaux Equity Partners, Athenian Venture Partners and Windamere Venture Partners. In addition, the company received $20 million in product-specific royalty funding from Paul Royalty Fund.