6th Aug 2015 08:30
LONDON (Alliance News) - AstraZeneca PLC on Thursday said it has entered into a licensing deal with Heptares Therapeutics, a subsidiary of Japanese biopharmaceutical company Sosei Group Corp, under which the FTSE 100-listed drugmaker will acquire the rights to adenosine receptor inhibitor HTL-1071, along with potential receptor-blocking compounds.
Under the terms of the deal, Astra will get an exclusive licence to research, develop, manufacture and commercialise HTL-1071, and the two companies will work together on discovering further receptor-blocking compounds for development in cancer immunotherapy treatments.
Astra will pay USD10 million upfront to Heptares, and the latter could receive up to USD500 million, plus royalties, subject to development and commercial milestones being reached.
AstraZeneca shares were down 0.4% to 4,407.00 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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