Drug Discovery company C4X Discovery Holdings plc has signed an exclusive worldwide licensing agreement with AstraZeneca plcAZN 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).
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.
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