C4X Discovery Holdings PLC - Manchester-based developer of drug discoveries - Receives milestone payment of EUR3 million from French pharma firm Sanofi SA under the IL-17A inhibitor programme licence agreement, first signed in April 2021.
C4X is entitled to up to a total of EUR414 million in upfront milestone payments plus royalties on future net sales.
"This first milestone payment is an important step in demonstrating the value of C4XD's expertise and our unique approach to drug discovery to deliver differentiated small molecules to the pharmaceutical industry. We are delighted to be working with Sanofi to rapidly drive the programme through this pre-clinical phase and we are confident that our molecules have the potential to deliver future life-changing oral IL-17A therapeutics for patients," said Chief Executive Officer Clive Dix.
Current stock price: 22.00 pence
12-month change: down 39%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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