Heptares Therapeutics, a U.K.-based clinical-stage company, and AstraZeneca have entered into a licensing agreement under which AstraZeneca will acquire exclusive global rights to develop, manufacture and commercialize the adenosine A_2A receptor antagonist, HTL-1071, a small molecule immuno-oncology candidate, and potential additional A_2A receptor-blocking compounds. AstraZeneca will focus on exploring HTL-1071 and any additional compounds across a range of cancers, including in combination with its existing portfolio of immunotherapies.

Heptares will receive an upfront payment of $10 million and is eligible to receive additional, significant near-term milestone payments based on agreed preclinical and/or clinical events. Subject to successful completion of development and commercialization milestones, Heptares also is eligible to receive more than $500 million, as well as up to double-digit tiered royalties on net sales.

Chief Executive Officer of Heptares Malcolm Weir said, “The A_2A receptor program at Heptares has been an outstanding example of our Structure Based Drug Design approach in action, resulting in a novel clinical candidate, HTL-1071, with a highly attractive profile. Heptares is targeting G-protein-coupled receptors that play a key role in cancer biology through the identification of both antibody and small molecule therapeutics. This agreement further builds on our successful, existing research collaboration.”