Insmed $INSM inked a deal with AstraZeneca $AZN, which gives the former rights to $AZN�s AZD7686, an oral inhibitor of enzymes called dipeptidyl peptidase 1 (DPP1). It plays a vital role in the activation of neutrophil serine proteases, enzymes that mediate innate immune responses and play an important role in certain pulmonary diseases like non-cystic fibrosis bronchiectasis, chronic bronchial inflammation that can lead to respiratory failure. According to the terms of the deal, $AZN will receive an upfront payment of $30mn, up to $120mn in milestones and tiered high-single-to-med-teens royalties on net sales. Under the terms of the agreement, AstraZeneca will receive an upfront payment of $30M, up to $120M in milestones and tiered high-single-digit-to-med-teens royalties on net sales. In addition, AZN also has the option to negotiate a future agreement for commercializing AZD7986/INS1007 in chronic obstructive pulmonary disease or asthma.