Allorion Therapeutics, a China-based biopharmaceutical company, has announced an exclusive option and global licensing agreement with AstraZeneca (AZ, NASDAQ: AZN) to develop and commercialize a novel allosteric inhibitor targeting the L858R mutation of the epidermal growth factor receptor (EGFR). The drug is intended for the treatment of advanced EGFR mutant non-small cell lung cancer (NSCLC).
According to the agreement, AstraZeneca will secure global development and commercialization rights to the EGFR L858R allosteric inhibitor. In exchange, the UK pharmaceutical major will pay Allorion an upfront payment of up to USD 40 million, along with near-term payments, and is committed to milestone payments for development and commercialization. Additionally, AstraZeneca will make an additional payment of up to USD 500 million and will pay tiered royalties based on global net sales.- Flcube.com
