AstraZeneca teams up with Scorpion Therapeutics to develop cancer treatments
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AstraZeneca (NASDAQ:AZN)
collaborates with Scorpion Therapeutics to discover, develop and commercialize precision medicines against previously hard-to-target cancer proteins, with the potential to transform oncology treatment.
Under terms of the agreement, Scorpion will lead discovery and certain preclinical activities by leveraging its integrated platform. AstraZeneca has the exclusive option to licence worldwide rights for up to three drug candidates.

Scorpion will receive an upfront cash payment of $75M and is eligible to receive additional success-based payments in the form of option fees and milestone payments, as well as tiered royalties on net sales ranging from mid-single digit to low-double digits.
AstraZeneca would be responsible for development and commercialization activities worldwide following opt-in, while Scorpion would retain the option to co-develop and co-promote up to two of these programs in U.S. under certain conditions.
Earlier, AZN reported that the booster dose of its COVID-19 vaccine increases antibody against Omicron variant.