AstraZeneca: to collaborate with Daiichi on cancer treatment
(CercleFinance.com) - AstraZeneca said on Friday that it has entered into a development and commercialisation collaboration agreement with Japan's Daiichi Sankyo on a new targeted drug for cancer treatment.
Trastuzumab deruxtecan is currently being developed for the treatment of multiple cancers, including gastric cancer.
A first regulatory submission, for breast cancer, is scheduled for the second half of 2019.
Under the terms of the deal, AstraZeneca will make Daiichi Sankyo an upfront payment of 1.35 billion dollars, with contingent payments of up to 5.55 billion dollars, depending on potential successful achievement and sales-related milestones.
This makes a grand total of 6.9 billion dollars.
To fund the payments, AstraZeneca announced its intention to raise around 3.5 billion dollars through placing new ordinary shares.
The market clearly didn't like this however: AstraZeneca are currently down 3.8% in London this morning.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Trastuzumab deruxtecan is currently being developed for the treatment of multiple cancers, including gastric cancer.
A first regulatory submission, for breast cancer, is scheduled for the second half of 2019.
Under the terms of the deal, AstraZeneca will make Daiichi Sankyo an upfront payment of 1.35 billion dollars, with contingent payments of up to 5.55 billion dollars, depending on potential successful achievement and sales-related milestones.
This makes a grand total of 6.9 billion dollars.
To fund the payments, AstraZeneca announced its intention to raise around 3.5 billion dollars through placing new ordinary shares.
The market clearly didn't like this however: AstraZeneca are currently down 3.8% in London this morning.
Copyright (c) 2019 CercleFinance.com. All rights reserved.