LONDON (dpa-AFX) - AstraZeneca PLC (AZN.L) Monday said it has entered into an exclusive license agreement with CSPC Pharmaceutical Group Ltd (CSPC) to develop CSPC's pre-clinical candidate YS2302018 as a lipid-lowering therapy with potential in a range of cardiovascular disease indications.
As per the deal, CSPC will receive an upfront payment of $100 million. It is also entitled to get earnout payments of up to $1.92 billion on achieving certain development and commercialisation targets with tiered royalties.
YS2302018, discovered by CSPC, has been shown to effectively prevent the formation of low-density lipoprotein that plays a key role in the transport of cholesterol in the blood stream. Elevated levels of low-density lipoprotein and LDL-cholesterol are known risk factors for cardiovascular disease, including coronary artery disease and stroke.
'Through this agreement with AstraZeneca and their global capabilities in clinical development and commercialisation, we look forward to accelerating the development of YS2302018, a novel small molecule Lp(a) disruptor to benefit the millions of patients worldwide living with these diseases,' said Dongchen Cai, Chairman of the Board, CSPC.
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