AstraZeneca PLC said Thursday that it has entered into an agreement with KYM Biosciences Inc. regarding an exclusive license agreement for a gastric cancer treatment.
The Anglo-Swedish pharma major said it will be responsible for the research, development, manufacture and commercialization of CMG901 globally.
AstraZeneca will make an upfront payment of $63 million, additional development and sales-related milestone payments of up to $1.1 billion to KYM Biosciences and tiered royalties up to low double digits, it added.
The deal is expected to close in the first half of 2023.
MG901 is currently under a Phase 1 clinical trial for the treatment of Claudin 18.2-positive solid tumors, including gastric cancer.
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