AstraZeneca has signed a deal worth up to $5.2bn to work with a Chinese biotech company using AI to develop new treatments for chronic diseases.
The drugmaker will collaborate with CSPC Pharmaceuticals on several drugs including a pill to treat immunological diseases. CSPC will receive $110mn upfront and will be eligible for payments based on development milestones of up to $1.6bn and sales milestones of up to $3.6bn.
Sharon Barr, who leads AstraZeneca’s biopharmaceuticals research and development, said the partnership would support the “rapid discovery of high quality novel therapeutic molecules”.
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