India, June 13 -- British drug major AstraZeneca Plc. (AZN.L,AZN) announced Friday that it has entered into a strategic research collaboration with Shijiazhuang City-based CSPC Pharmaceuticals Group Lts, which is focused on AI-enabled research.
Under the deal terms, CSPC will receive an upfront payment of $110 million. It is also eligible to receive up to $1.62 billion in potential development milestone payments and up to $3.6 billion in sales milestone payments, plus potential single digit royalties based on annual net sales of the products.
In the research collaboration, AstraZeneca and CSPC agree to discover and develop pre-clinical candidates for multiple targets with the potential to treat diseases across chronic indications. These i...