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CSPC PHARMA Forges Strategic Research Collaboration Deal with AstraZeneca
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CSPC PHARMA (01093.HK) announced that it had entered into a strategic research collaboration agreement with AstraZeneca for the discovery and development of novel oral small molecule candidates utilizing the group's AI-driven, dual-engine efficient drug discovery platform. Under the terms of the agreement, CSPC PHARMA agreed to discover pre-clinical candidates (PCC) for multiple targets as selected by AstraZeneca with potential to treat diseases across indications, including a pre-clinical small molecule oral therapy for immunological diseases. For each PCC program, AstraZeneca will have rights to exercise the option for an exclusive license for development, manufacturing and commercialization worldwide. Meanwhile, CSPC PHARMA will receive an upfront payment of USD110 million, and is also eligible to receive up to USD1.62 billion in potential development milestone payments and up to USD3.6 billion in potential sales milestone payments, plus potential single digit royalties based on annual net sales of the products. AAStocks Financial News |
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