£400m payment....4 Jan 2024 11:26
AstraZeneca triggers $11 million preclinical milestone payment to C4X Discoveryunder its NRF2 exclusive worldwide licence agreement worth up to $402 million
3 January 2024 - C4X Discovery Holdings plc (AIM: C4XD), a pioneering Drug Discovery company, today announces that it has received a milestone payment of $11 million from AstraZeneca triggered by preclinical progress of C4XD's NRF2 Activator programme.
Under the terms of the licensing agreement announced in November 2022, C4XD received an initial $2 million upfront payment and is potentially entitled to receive up to $400 million in preclinical, clinical development and commercial milestones, and to tiered mid-single digit royalties on future sales.