AstraZeneca: new collaboration to focus on cancer treatments
(CercleFinance.com) - AstraZeneca said on Thursday that it will collaborate with US biotech firm Accent Therapeutics to develop and market new therapeutics for the treatment of cancer.
The partnership will capitalise on Accent's team's expertise in RNA-modifying protein biology, which AstraZeneca considers to be a "compelling area of exploration."
By identifying cells with unique mechanism, Accent can target cancer-linked RNA-modifying proteins (RMPs) with precision therapies, the biopharma giant said.
Under the terms of the deal, Accent will be responsible for research and development activities through to the end of Phase I clinical trials, while AstraZeneca will lead development and marketing activities.
Accent will receive an upfront payment of 55 million euros, also being eligible to receive up to 1.1 billion dollars in milestone payments and product royalties.
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