Singapore: Orexo entered into an agreement with AstraZeneca regarding preclinical program OX-CLI for a potential novel treatment of respiratory diseases.

According to the agreement, Orexo grants to AstraZeneca the rights to conduct further preclinical research and evaluation of compounds in Orexo's OX-CLI program.

AstraZeneca also has an option to acquire the compounds pertaining to the program subject to a full asset transfer agreement being executed by the parties, under which Orexo will receive development milestones and royalties on future revenues.

Mr Anders Lundström, CEO, Orexo, said that, "Our OX-CLI program is a promising R&D project, which has potential to improve the treatment of respiratory diseases for millions of patients."

He also said, "AstraZeneca, a leading global company within the inflammatory and respiratory area, is the optimal partner for OX-CLI and we look forward to see the project advancing."