LONDON (dpa-AFX) - Allorion Therapeutics, a US and China-based biotechnology company, on Tuesday entered into an exclusive option and global license agreement with British drug major AstraZeneca plc (AZN) to develop and commercialize a novel epidermal growth factor receptor (EGFR) L858R mutated allosteric inhibitor, as a potential new treatment for advanced EGFR-mutant non-small cell lung cancer (NSCLC).
Under the terms of the agreement, AstraZeneca will be granted an exclusive option to license a novel EGFR L858R allosteric inhibitor to develop and commercialize globally.
Allorion is eligible to receive upfront and near-term payments of up to $40 million, and additional development and commercial milestone payments of over $500 million, as well as tiered royalties on net sales worldwide.
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