REG - C4X Discovery - AstraZeneca $11m milestone payment to C4XD

C4X Discovery HoldingsAnnouncement

03/01/2024 07:15

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RNS Number : 4364Y  C4X Discovery Holdings PLC  03 January 2024

C4X Discovery Holdings plc

 

("C4XD", "C4X Discovery" or the "Company")

 

AstraZeneca triggers $11 million preclinical milestone payment to C4X
Discovery

under 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
(https://www.c4xdiscovery.com/c4xd-signs-exclusive-global-licence-worth-up-to-402-million1-with-astrazeneca-for-the-development-and-commercialisation-of-nrf2-activator-programme/)
, 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.

 

AstraZeneca is developing C4XD's former NRF2 Activator programme to deliver an
oral therapy for the treatment of inflammatory and respiratory diseases, with
a lead focus on chronic respiratory disease.

 

Clive Dix, CEO of C4X Discovery, said: "This significant preclinical milestone
payment marks the progress AstraZeneca has made in driving the NRF2 Activator
programme forward. NRF2 is a challenging target and this achievement provides
further validation of our ability to generate differentiated, quality
molecules in immuno-inflammation. We believe that our unique approach can
deliver transformative oral therapies for patients suffering from
immuno-inflammatory diseases. This is a great start to our year and we are
confident of seeing further progress across our entire portfolio in 2024."

 

This announcement contains inside information for the purpose of the UK Market
Abuse Regulations.

 

- Ends -

 

Contacts

 

 C4X Discovery Holdings
 Mo Noonan, Communications                       +44 (0)787 6444977

 Panmure Gordon (UK) Limited (NOMAD and Broker)
 Freddy Crossley, Emma Earl (Corporate Finance)  +44 (0)20 7886 2500
 Rupert Dearden (Corporate Broking)

 C4X Discovery Media - ICR Consilium
 Mary-Jane Elliott, Chris Gardner, Matthew Neal  +44 (0)203 709 5700
 C4X Discovery Holdings

 

 

Notes to Editors:

 

About C4X Discovery

C4X Discovery (C4XD) is a pioneering Drug Discovery company, combining
scientific expertise with cutting-edge technologies to efficiently deliver
world‑leading medicines. We have a highly valuable and differentiated
approach to Drug Discovery through our enhanced molecular design and patient
stratification capabilities, generating small molecule drug candidates across
multiple disease indications focused on immuno-inflammation. We are advancing
our internal portfolio which ranges from early-stage target opportunities to
late-stage Drug Discovery programmes and we have two commercially partnered
programmes with Sanofi and AstraZeneca, and one clinical stage candidate which
has been acquired by Indivior.

 

For more information visit us at www.c4xdiscovery.com
(http://www.c4xdiscovery.com) or follow us on twitter @C4XDiscovery.

 

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