1100 GMT- AstraZeneca PLC is among the most mentioned companies across news items over the past 12 hours, according to Factiva data, after it said that it signed for an exclusive license agreement with KYM Biosciences Inc. for a gastric cancer treatment with an upfront payment of $63 million. The Anglo-Swedish pharma major said that it will be responsible for the research, development, manufacture and commercialization of the treatment, known as CMG901, globally. The agreement also includes additional development and sales-related milestone payments of up to $1.1 billion to KYM Biosciences and tiered royalties up to low double digits, the company said. "We view today's news as another example of AstraZeneca gaining early access to a potentially interesting target with a sensibly structured back-end loaded deal," said Goodbody analyst Adam Barker in a note. Dow Jones & Co. owns Factiva. (cecilia.butini@wsj.com)

(END) Dow Jones Newswires

February 23, 2023 06:23 ET (11:23 GMT)

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