Shares of CSPC Pharmaceutical Group Limited (HKG:1093) surged by 6.74% on Monday, riding a wave of investor enthusiasm following the company's exclusive licensing agreement with global pharmaceutical giant AstraZeneca (LON:AZN) for a promising lipid-lowering therapy.
The landmark deal, potentially worth up to $1.92 billion, grants AstraZeneca access to CSPC Pharma's pre-clinical candidate, YS2302018, an oral Lipoprotein (a) disruptor with potential benefits for patients with dyslipidemia and related cardiovascular diseases. Under the terms of the agreement, CSPC Pharma will receive an upfront payment of $100 million from AstraZeneca, with the potential for further development and sales milestone payments totaling up to $1.92 billion, as well as tiered royalties based on annual net sales of the relevant products.
The YS2302018 therapy is designed to prevent the formation of Lipoprotein (a), a form of low-density lipoprotein that plays a key role in transporting cholesterol in the bloodstream. By disrupting this pathway, the therapy aims to lower the risk of cardiovascular diseases associated with high levels of Lipoprotein (a) and dyslipidemia.
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