Astrazeneca has struck a licensing agreement worth up to $2bn (£1.5bn) with China’s CPSC Pharmaceutical Group to develop a new cardiovascular drug, the company announced on Monday.
The Anglo-Swedish pharmaceutical giant will pay $100m (£76.5) upfront, with additional milestone payments of up to $1.9bn (£1.4bn), to licence a preclinical small molecule aimed at treating dyslipidemia.
Dyslipidemia refers to an imbalanced, abnormal level of lipids in the bloodstream, often posing significant risk for cardiovescular diseases.
The deal strengthens Astrazeneca’s cardiovascular portfolio, a key growth area as the company seeks to expand its offerings in managing cardio-metabolic diseases, including those related to lipid disorders.
The pharmaceutical firm has become one of the most recent UK-listed companies to achieve a market valuation of £200bn last month, with its stocks surging by nearly 20 per cent in the last year.
The new drug candidate, called YS2302018, targets lipoprotein (a), which is linked to multiple cardiovascular conditions.
“This asset is an important addition to our cardiovascular pipeline and could help patients to more effectively manage their dyslipidaemia and related cardiometablic diseases”, said Sharon Barr, Astrazeneca’s head of bio-pharmaceutical R&D.
“With cardiovescular diseases being a leading cause of death globally”, she continued, “advancing novel therapies that can be used alone or in combination to effectively address known risk factors is particularly important”.
This agreement comes amid growing demand for innovative cardiovascular treatments, driven by ageing populations and rising heart disease rates globally.
Astrazeneca’s focus on high-growth area contrasts with a challenging market environment, where big pharma faces patent cliffs and increasing pressure on drug pricing.