UK’s C4X Discovery signs $400 mln licensing deal with AstraZeneca

UK’s C4X Discovery signs $400 mln licensing deal with AstraZeneca

LONDON, Nov 28 (Reuters) – British drug discovery company C4X Discovery (C4XD.L) said AstraZeneca (AZN.L) had signed a licence worth up $402 million to develop an oral therapy for the treatment of inflammatory and respiratory diseases using its NRF2 Activator programme.

C4XD said on Monday it would receive pre-clinical milestone payments worth up to $16 million ahead of the first clinical trial, including $2 million upfront.

In addition, C4XD said it would receive a further potential $385.8 million in clinical development and commercial milestones and tiered mid-single digit royalties upon commercialisation of any treatment.

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Source: Reuters