AstraZeneca Bets On UK Listed Firm For Lung Diseases

  • Drug Discovery company C4X Discovery Holdings plc has signed an exclusive worldwide licensing agreement with AstraZeneca plc AZN worth up to $402 million for its NRF2 Activator program
  • C4X Discovery is listed on the London Stock exchange, and the deal is the third significant deal with a major pharmaceutical company.
  • AstraZeneca will develop and commercialize an oral therapy for inflammatory and respiratory diseases with a lead focus on chronic obstructive pulmonary disease (COPD).
  • Related: FDA Adcomm Backs AstraZeneca's 2-In-1 Asthma Inhaler, Only For Adults Being Less Sure For Adolescents, Kids.
  • Under the terms of the agreement, C4XD will receive pre-clinical milestone payments worth up to $16 million ahead of the first clinical trial, including $2 million upfront. 
  • In addition, C4XD is eligible to receive a further potential $385.8 million in clinical development and commercial milestones and tiered mid-single digit royalties upon commercialization.
  • Price Action: AZN shares are up 0.05% at $66.21 premarket on the last check Monday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: BiotechLarge CapNewsHealth CareContractsGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!