By Stephen Nakrosis

Insmed Inc. on Monday said AstraZeneca PLC exercised an exclusive option to "advance clinical development of INS1007 in the indication of chronic obstructive pulmonary disease or asthma."

Under the terms of the deal, AstraZeneca is responsible for all aspects of development up to and including Phase 2 clinical trials.

AstraZeneca also has the option to move beyond Phase 2 clinical trials if the company's reach agreement on commercial terms, Insmed said.

In February 2020, Insmed reported positive top-line results from the global Phase 2 Willow study of INS1007 in adults with non-cystic fibrosis bronchiectasis. Insmed plans to advance INS1007 to Phase 3 development for the treatment of bronchiectasis.

Insmed is also exploring the use of INS1007 in treating acute respiratory distress syndrome that may be brought on by any number of causes, including in the setting of respiratory failure due to Covid-19.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

March 16, 2020 17:21 ET (21:21 GMT)

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