C4X Discovery gets $11 million milestone from AstraZeneca
Early-stage UK-based biotech 4X Discovery Holdings (AIM: C4XD) has received a milestone payment of $11 million from AstraZeneca (LSE: AZN), triggered by pre-clinical progress of C4XD's NRF2 Activator program, with the news sending C4X’ shares rocketing more than 42% to 12.45 pence this morning.
Under the terms of the November 2022 licensing agreement, C4XD received an initial $2 million upfront payment and is potentially entitled to receive up to $400 million in pre-clinical, clinical development and commercial milestones, and to tiered mid-single digit royalties on future sales.
AstraZeneca is developing C4XD's former NRF2 activator program to deliver an oral therapy for the treatment of inflammatory and respiratory diseases, with a lead focus on chronic respiratory disease.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
More on this story...
Today's issue
Company Spotlight
More Features in Biotechnology
Copyright © The Pharma Letter 2025 | Headless Content Management with Blaze