By Michael Susin

AstraZeneca PLC said Thursday that it has completed an exclusive global license agreement with KYM Biosciences over the CMG901 treatment for solid tumors, including gastric cancer.

The pharma giant said the license comprises the research, development, manufacture and commercialization of CMG901 for an upfront payment of $63 million.

The deal includes the potential development and sales-related milestone payments of up to $1.1 billion and tiered royalties up to low-double digits. The transaction won't have a financial impact on AstraZeneca's guidance for 2023.

The treatment is currently in a Phase 1 study, and preliminary results showed an encouraging profile for CMG901, with early signs of anti-tumour activity across the dose levels tested, it said.

KYM Biosciences is a joint venture established by affiliates of Keymed Biosciences and Lepu Biopharma.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

March 30, 2023 02:38 ET (06:38 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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