AstraZeneca, Eccogene Announced An Exclusive License Agreement For ECC5004 For Obesity, Type-2 Diabetes And Other Cardiometabolic Conditions, Eccogene Will Receive An Initial Upfront Payment Of $185M And Additional $1.825B As Potential Milestone Payments
Portfolio Pulse from Benzinga Newsdesk
AstraZeneca and Eccogene have entered into an exclusive license agreement for ECC5004, a drug aimed at treating obesity, type-2 diabetes, and other cardiometabolic conditions. Eccogene will receive an initial upfront payment of $185M and could potentially receive an additional $1.825B in milestone payments.
November 09, 2023 | 9:44 am
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AstraZeneca's partnership with Eccogene for ECC5004 could potentially lead to a new revenue stream if the drug proves successful. The upfront payment of $185M and potential milestone payments of $1.825B indicate a significant investment in the drug's potential.
AstraZeneca's investment in ECC5004 indicates a belief in the drug's potential. If the drug proves successful, it could lead to a significant new revenue stream for the company. However, the success of the drug is not guaranteed and the investment is substantial.
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RELEVANCE 100