NATICK, Mass., January 2, 2024 /PRNewswire/ — Allorion Therapeutics (“Allorion”), an American company ChinaA Toronto-based biotechnology company focused on the discovery of novel small molecule drugs to treat cancer and autoimmune diseases, has entered into an exclusive option and global licensing agreement with AstraZeneca (LSE/STO/Nasdaq: AZN) to develop and commercialize a new epidermal growth solution. L858R, a mutated allosteric inhibitor of EGFR factor receptor (EGFR), as a potential new treatment for EGFR mutant advanced non-small cell lung cancer (NSCLC).
Under the terms of the agreement, AstraZeneca will be granted an exclusive option to license a novel allosteric EGFR inhibitor L858R to develop and commercialize globally. Allorion is eligible to receive upfront and short-term payments of up to 40 million dollarsand additional development and commercial milestone payments of more than 500 million dollarsas well as tiered royalties on net sales worldwide.
Fang Li, PhD., co-founder and chief scientific officer of Allorion, remarked: “Allorion’s allosteric EGFR inhibitor L858R is designed to address resistance mechanisms to current EGFR inhibitors and has the potential to improve their activity, when used in combination. enter into this agreement with AstraZeneca, a global leader in this field, to advance our EGFR inhibitor into the clinic and explore potential combinations with other EGFR targeting molecules such as Tagrisso.
Allorion Therapeutic
Allorion Therapeutics is a biotechnology company focused on creating novel small molecule drugs to treat cancer and autoimmune diseases. The company has a team of experienced drug discovery and development professionals capable of identifying new drugs with unique mechanisms of action and developing innovative data and screening platforms for long-term success. term. Allorion Therapeutics aims to advance new medicines with high clinical relevance.
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SOURCE Allorion Therapeutics
