C4X Discovery Inks Licensing Deal Worth Up To $402 Mln With AstraZeneca

C4X Discovery Holdings Plc (C4XD.L), a British drug discovery firm, said on Monday that it has signed an exclusive licensing deal of up to $402 million with AstraZeneca Plc (AZN.L), for its NRF2 Activator program.

Accordingly, AstraZeneca will develop and sell an oral therapy to treat inflammatory and respiratory diseases, particularly focusing on chronic obstructive pulmonary disease or COPD.

C4XD will receive pre-clinical milestone payment of up to $16 million ahead of the first clinical trial, including $2 million upfront.

In addition, the company is also eligible to get a potential $385.8 million in clinical development and commercial milestones, and tiered mid-single digit royalties upon commercialization.

Clive Dix, CEO of C4XD, said: "…The COPD market alone is worth close to $20 billion and rising.2 But, more importantly, I know that in AstraZeneca's hands, with their scientific, technical and commercial expertise, our NRF2 Activator program has the potential to deliver life changing treatments for the millions of patients suffering with COPD across the world."

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