CSPC Pharmaceutical Group HKEX:1093 said on Thursday it had entered into an agreement with London-listed AstraZeneca LSE:AZN to jointly develop pre-clinical candidates with potential to treat renal diseases using the group's siRNA drug discovery platform.
AstraZeneca will have the option to obtain the exclusive rights for the development, manufacturing and commercialisation of the drug globally or outside of China in exchange for payments totalling $1.77 billion, including an upfront payment of $30 million, the group added.