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AstraZeneca: deal with Scorpion Therapeutics in oncology

( - AstraZeneca today announced that it has signed a collaboration agreement with Scorpion Therapeutics to discover, develop and commercialise precision medicines against previously untargetable cancer proteins.

In particular, both partners intend to focus on a class of proteins called transcription factors, which control gene expression.

The collaboration will combine Scorpion's fully integrated discovery platform with AstraZeneca's leadership in the development and commercialisation of precision medicines for cancer treatment.

Scorpion will receive an upfront cash payment of 75 million dollars and may receive additional payments upon success in the form of option fees and milestone payments, as well as tiered royalties on net sales.

Despite this announcement and the previous Covid vaccine news, the share is flat this morning.

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