Enanta signs deal with Abbott

Drug maker Abbott Laboratories has signed an agreement with small Watertown drug maker Enanta Pharmaceuticals to develop and commercialize treatments for the liver disease hepatitis C, the companies said today.

Upon closing of the agreement, Enanta said it will receive an up-front payment of $57 million, which includes a cash payment and an equity investment.

If all potential clinical and regulatory milestones are met, the firms said, additional payments of up to $250 million will be made to Enanta, which specializes in protease inhibitors.

Under the agreement, Abbott of Illinois gains access to Enanta's intellectual property for a variety of different types of compounds, which include several US patents, the companies said.

Abbott also gains access to Enanta's drug discovery capabilities in the HCV NS3 and NS3/4A protease inhibitor field, the companies said.