LEO Pharma paid AstraZeneca $115M upfront for exclusive global rights to tralokinumab in atopic dermatitis (and any future dermatology indications) plus exclusive European rights to brodalumab in psoriasis. Up to $1B in commercial milestones and mid-teen tiered royalties on tralokinumab. Allowed AstraZeneca to focus tralokinumab on severe asthma; LEO entered biologics. Tralokinumab later approved as Adbry/Adtralza.