AZN - AstraZeneca Allorion form pact to advance EGFR inhibitor

2024-01-02 09:28:01 ET

AstraZeneca ( NASDAQ: AZN ) has entered into an exclusive option and global license deal with biotechnology company Allorion Therapeutics.

The deal provides AstraZeneca ( AZN ) with an exclusive option to license a novel epidermal growth factor receptor (EGFR) L858R allosteric inhibitor from Allorion to develop and commercialize globally as a potential new treatment for advanced EGFR-mutant non-small cell lung cancer.

Allorion is eligible to receive upfront and near-term payments of up to $40M under the deal, with additional development and commercial milestone payments of over $500M, as well as tiered royalties on net sales worldwide.

Fang Li, cofounder and chief scientific officer of Allorion, commented, "Allorion's EGFR L858R allosteric inhibitor is designed to address mechanisms of resistance to current EGFR inhibitors and has the potential to enhance their activity, when used in combination. We are excited to enter into this agreement with AstraZeneca, a global leader in this field, to advance our EGFR inhibitor into the clinic and explore potential combinations with other EGFR targeting molecules such as Tagrisso."

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