€3 million milestone payment triggered by pre-clinical progression in oral IL-17A inhibitor programme

MANCHESTER, UK / ACCESSWIRE / July 6, 2022 / C4X Discovery Holdings plc (AIM:C4XD), a pioneering Drug Discovery company, today announces that it has received a milestone payment of €3 million from Sanofi under the IL-17A Inhibitor programme license agreement entered into in April 2021.

Under the terms of the deal, C4XD is entitled to up to a total of €414 million in upfront, pre-clinical, development, regulatory and commercialisation milestone payments plus royalties on future net sales.

Clive Dix, CEO of C4X Discovery, said: 'This first milestone payment is an important step in demonstrating the value of C4XD's expertise and our unique approach to drug discovery to deliver differentiated small molecules to the pharmaceutical industry. We are delighted to be working with Sanofi to rapidly drive the programme through this pre-clinical phase and we are confident that our molecules have the potential to deliver future life-changing oral IL-17A therapeutics for patients.'

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About C4X Discovery

C4X Discovery ('C4XD') is a pioneering Drug Discovery company combining scientific expertise with cutting-edge Drug Discovery technologies to efficiently deliver world leading medicines, which are developed by our partners for the benefit of patients. We have a highly valuable and differentiated approach to Drug Discovery through our enhanced DNA-based target identification and candidate molecule design capabilities, generating small molecule drug candidates across multiple disease areas including inflammation, oncology, neurodegeneration and addictive disorders. Our commercially attractive portfolio ranges from early-stage novel target opportunities to late-stage Drug Discovery programmes ready for out-licensing to partners and we have two commercially partnered programmes with one candidate in clinical development.

We collaborate with leading pharmaceutical and life sciences companies to enrich our expertise and take our assets through pre-clinical and clinical development. Through early-stage revenue-generating licensing deals, we realise returns from our high value pre-clinical assets which are reinvested to maximise the value of our Drug Discovery portfolio.

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SOURCE: C4X Discovery Holdings PLC