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Tuesday, January 31, 2023

AstraZeneca (NASDAQ: AZN) and RQ Bio Ink Licensing Agreement

AstraZeneca PLC (NASDAQ: AZN) and LifeArc co-founded the company RQ Biotechnology Ltd (RQ Bio) and have inked a licensing agreement. As per the agreement, RQ Bio has awarded AstraZeneca an exclusive worldwide license to develop, manufacture, and commercialize RQ Bio’s existing early-stage mAbs against SARS-CoV-2, as well as a right of first refusal to take an exclusive license for any additional mAbs against SARS-CoV-2.

RQ Bio will get up to $157 million in upfront and milestone payments, as well as single-digit royalties on sales. Oxford University Innovation, a wholly-owned subsidiary of the University of Oxford that handles the University’s technology transfer and consulting activities, backed the successful licensing deal by working efficiently and innovatively with all groups on the respective technology licenses and intellectual property filings.

RQ Bio stated that its objective is to expand on its successful debut with SARS-CoV-2 neutralizing antibody treatment and create novel medications to meet existing and evolving unmet needs in additional viral infectious diseases. It has built a smarter approach to antibody creation by combining its experience and innovative capabilities in essential areas, putting it in a unique position to achieve immediate patient impact.

Furthermore, RQ Bio has emerged from stealth mode to announce its debut as a new biotechnology firm situated in the United Kingdom. The London-based company is focused on developing treatments and preventative medicines based on potent broad-spectrum mAbs to give immediate and long-lasting protection for vulnerable people who are in danger of serious disease or death from existing, emerging, and future viral diseases.

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