0934 GMT - AstraZeneca is among the most mentioned companies across news items over the past four hours, according to Factiva data, after the pharmaceutical company said it had reached an agreement with Quell Therapeutics to develop, manufacture and commercialize engineered T-regulatory, or Treg, cell therapies for autoimmune diseases. Under the agreement, Quell will receive $85 million upfront in the form of a cash payment and an equity investment. The Anglo-Swedish company said that if successful, Quell is eligible to receive more than $2 billion for further development and commercialization milestones plus tiered royalties. The pharma giant said the deal--which encompasses a collaboration, an exclusive option and license agreement--is focused on type 1 diabetes and inflammatory bowel disease. "This is aligned with our strategy to target underlying disease drivers to stop or slow disease progression and ultimately accelerate the delivery of transformative care to patients with chronic autoimmune conditions," AstraZeneca said. Dow Jones & Co. owns Factiva. (anthony.orunagoriainoff@dowjones.com)

(END) Dow Jones Newswires

June 09, 2023 05:49 ET (09:49 GMT)

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