NATICK, Mass., Jan. 2, 2024 /PRNewswire/ -- Allorion
Therapeutics ("Allorion"), a US and China-based biotechnology company that focuses
on the discovery of new small molecule drugs for treating cancer
and autoimmune diseases, has entered into an exclusive option and
global license agreement with AstraZeneca (LSE/STO/Nasdaq: AZN) to
develop and commercialize a novel epidermal growth factor receptor
(EGFR) L858R mutated allosteric inhibitor, as a potential new
treatment for advanced EGFR-mutant non-small cell lung cancer
(NSCLC).
Under the terms of the agreement, AstraZeneca will be
granted an exclusive option to license a novel EGFR L858R
allosteric inhibitor to develop and commercialize globally.
Allorion is eligible to receive upfront and near-term payments of
up to $40 million, and additional
development and commercial milestone payments of over $500 million, as well as tiered royalties on net
sales worldwide.
Fang Li, PhD., Cofounder and Chief Scientific Officer of
Allorion remarked, "Allorion's EGFR L858R allosteric inhibitor is
designed to address mechanisms of resistance to current EGFR
inhibitors and has the potential to enhance their activity, when
used in combination. We are excited to enter into this agreement
with AstraZeneca, a global leader in this field, to advance our
EGFR inhibitor into the clinic and explore potential combinations
with other EGFR targeting molecules such as Tagrisso."
Allorion Therapeutics
Allorion Therapeutics is a
biotechnology company that focuses on creating new small molecule
drugs for treating cancer and autoimmune diseases. The company has
a team of experienced drug discovery and development professionals
who can identify new drugs with unique mechanisms of actions and
develop innovative data and screening platforms for long-term
success. Allorion Therapeutics aims to advance new drugs with high
clinical relevance.
Media Contact
media@alloriontx.com
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