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X-Chem, AstraZeneca announce second agreement
November 2013
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WALTHAM, Mass.—X-Chem Inc. has announced an expanded global drug discovery collaboration with AstraZeneca PLC encompassing all of its therapeutic areas and a variety of target classes. Per the terms of the agreement, AstraZeneca will provide X-Chem with committed research and development funding for each project, and each program licensed by AstraZeneca is eligible for preclinical, clinical and sales milestones of up to $26 million. X-Chem also stands to receive royalties for each commercialized drug resulting from a licensed program.
 
Steve Rees, vice president of Discovery Sciences at AstraZeneca, noted that, “The novel chemical series discovered by X-Chem have so far enabled three of our therapeutic programs and are continuing to progress within AstraZeneca. We view the X-Chem platform as an important and strategic part of our small-molecule discovery strategy.”
 
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