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C4X Discovery Holdings has announced that its subsidiary, C4X Discovery has signed an exclusive worldwide licensing agreement with Sanofi worth up to €414 million for C4XDs oral pre-clinical IL-17A inhibitor programme.
Under the terms of the agreement, C4XD will receive an upfront payment of €7 million and could receive up to a further €407 million in potential development, regulatory and commercialisation milestones, of which €11 million is in pre-clinical milestones, in addition to single digit royalties.
Under the license, Sanofi will develop and commercialise an oral therapy for the treatment of inflammatory diseases, a multi-billion-dollar market.
Clive Dix, CEO of C4X Discovery, said: 'We are proud to be working with Sanofi to create much needed oral therapies in the underserved inflammatory disease space. While antibody therapies have demonstrated the potential of IL-17 inhibition in the generation of highly effective treatments, the injectable route means many patients currently do not have access to the medicines that can change their lives. We believe that our small molecule programme has the potential to create high value, efficacious and convenient oral IL-17 therapeutics for this large market.
'This is the second significant agreement for a C4XD programme and marks a major milestone for the company, not only validating the strength of our drug discovery expertise, but also our strategy to drive shareholder value through early-stage revenue generating deals.'
At 2:27pm: (LON:C4XD) C4x Discovery Holdings Plc share price was 0p at 23.8p