AstraZeneca

Licensing agreement (2015) to develop novel immuno-oncology treatments for a range of cancers, under which AstraZeneca gains exclusive global rights to develop, manufacture and commercialize the adenosine A2a receptor antagonist, AZD4365, a small molecule immuno-oncology candidate, and other A2a receptor-blocking compounds. AstraZeneca will focus on exploring AZD4365 and any additional compounds across a range of cancers, as a single agent and in combination with its existing portfolio of immunotherapies.

We received an upfront payment of $10 million and are eligible to receive additional, significant near-term milestone payments based on agreed pre-clinical and/or clinical events. Subject to successful completion of development and commercialization milestones, we are also eligible to receive more than $500 million, as well as up to double-digit tiered royalties on net sales.