Orexo AB (Orexo) (STO:ORX) announced today that the company has entered into an agreement with AstraZeneca regarding OX-CLI, a preclinical program for a potential novel treatment of respiratory diseases. Under this agreement, Orexo grants to AstraZeneca rights to conduct further preclinical research and evaluation of compounds in Orexo's OX-CLI program. AstraZeneca also has an option to acquire the compounds pertaining to the program subject to a full asset transfer agreement being executed by the parties, under which Orexo will receive development milestones and royalties on future revenues.
"Our OX-CLI program is a promising R&D project, which has potential to improve the treatment of respiratory diseases for millions of patients. AstraZeneca, a leading global company within the inflammatory and respiratory area, is the optimal partner for OX-CLI and we look forward to see the project advancing. " says CEO Anders Lundström.