C4X Discovery at near 2-year high on deal with French drugmaker Sanofi

C4X Discovery Holdings

12/04/2021 08:28

** Shares of drug developer C4X Discovery  C4XD.L  surge as
much as 37.5% to 55p, their highest since June 2019
    ** Co signs an exclusive licensing deal worth up to 414 mln
euros ($491.87 mln) with French drugmaker Sanofi  SASY.PA  to
develop an oral therapy for treatment of inflammatory
diseases urn:newsml:reuters.com:*:nL4N2M51QK
    ** C4X Discovery will get upfront payment of 7 mln euros and
receive up to a further 407 mln euros for potential development,
regulatory and commercialisation milestones
    ** Stock set for biggest intraday percentage gain since July
2020

    ($1 = 0.8417 euros)

 (Reporting by Shanima A in Bengaluru)
 ((shanima.a@thomsonreuters.com; (Within UK +44 20 7542 1810;
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