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AstraZeneca has entered a strategic research collaboration with Shijiazhuang City-based CSPC Pharmaceuticals Group Limited. Working together on high priority targets, the collaboration aims to advance the discovery and development of novel oral candidates, with the potential to treat diseases across multiple indications.

Under the terms of the agreement, AstraZeneca and CSPC agree to discover and develop pre-clinical candidates for multiple targets with the potential to treat diseases across chronic indications, including a pre-clinical small molecule oral therapy for immunological diseases.

Sharon Barr, Executive Vice President and Head of BioPharmaceuticals R&D said: "This strategic research collaboration underscores our commitment to innovation to tackle chronic diseases which impact over two billion people globally. Forming strong collaborations allows us to leverage our complementary scientific expertise to support the rapid discovery of high-quality novel therapeutic molecules to deliver the next-generation medicines."

The research will be carried out by CSPC, in Shijiazhuang City and will utilise their AI-driven, dual-engine efficient drug discovery platform. This platform uses AI technology to analyse the binding patterns of target proteins with existing compound molecules, conduct targeted optimization, with the aim of selecting highly effective small molecules with excellent developability.

The collaboration furthers AstraZeneca's presence in China following the $2.5bn investment in Beijing announced earlier this year and strengthens the ongoing collaboration with CSPC.

Under the terms of the agreement, CSPC will receive an upfront payment of $110 million, and 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.

Under the agreement, AstraZeneca will have rights to exercise options for exclusive licenses to develop and commercialise worldwide candidates identified under this agreement.

AstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development, and commercialisation of prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca's innovative medicines are sold in more than 125 countries and used by millions of patients worldwide. Please visit astrazeneca.com and follow the Company on social media @AstraZeneca

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Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	By: /s/ Adrian Kemp
	Name: Adrian Kemp
	Title: Company Secretary