C4X Discovery Shares Jump on Sanofi Licensing Agreement
April 12 2021 - 3:34AM
Dow Jones News
By Adria Calatayud
Shares in C4X Discovery Holdings PLC rose Monday after the
company said it has signed a licensing agreement with French
pharmaceutical major Sanofi SA to develop a preclinical program as
an oral therapy for inflammatory diseases.
C4XD, a London-listed drug-discovery company, said it will
receive an upfront payment of 7 million euros ($8.3 million) in
addition to potential preclinical milestones of EUR11 million, and
clinical and commercial milestones plus royalties. The licensing
agreement could be worth up to EUR414 million, the company
said.
The agreement is for C4XD's oral IL-17A inhibitor program, the
company said. Sanofi will continue to work with the C4XD team as
the program advances toward clinical studies, C4XD said.
This is C4XD's second major licensing deal with a global
pharmaceutical company, it said.
Shares in C4XD at 0700 GMT were up 28% at 51 pence.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
April 12, 2021 03:19 ET (07:19 GMT)
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