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4 months ago
BRIEF-X-Chem signs broad drug discovery collaboration with Astellas Pharma
March 20, 2017 / 12:44 PM / 4 months ago

BRIEF-X-Chem signs broad drug discovery collaboration with Astellas Pharma

1 Min Read

March 20 (Reuters) - X-Chem Inc:

* X-Chem Inc - announced signing of a broad drug discovery collaboration with Astellas Pharma Inc

* X-Chem Inc - under terms of this multi-year agreement, X-Chem will receive an up-front payment of $16 million

* X-Chem Inc - as per agreement, co is eligible to receive research funding, as well as license and option fees as drug discovery collaboration proceeds

* X-Chem - additionally, Astellas has option to license compounds identified through the collaboration

* X-Chem - co will be entitled to pre-clinical, developmental, and commercial milestone payments on licensed compounds against each target

* X-Chem - milestone payments could amount to over $100 million per target, in addition to royalties based on sales of future products Source text for Eikon: Further company coverage:

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