Astrazeneca to Pay More Than $510 Million for Heptares Medicine

AstraZeneca Plc agreed to pay Heptares Therapeutics, a unit of Japan’s Sosei Group Corp., more than $510 million for the rights to develop and sell an experimental cancer medicine designed to harness the patient’s own immune system to help destroy tumors.

AstraZeneca will pay $10 million upfront and said in a statement Heptares could get “significant near-term milestone payments” based on meeting some clinical development goals. If the drug, called HTL-1071, makes it to market, Heptares stands to get more than $500 million, as well as royalties.

Link to Statement:Link

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