- Drug discovery company C4X Discovery said it had signed an exclusive worldwide licensing agreement with Sanofi worth up to €414 million, for the company's oral pre-clinical IL-17A inhibitor programme.

Under the terms of the agreement, C4XD would receive an upfront payment of €7 million and could receive up to a further €407 million in potential development, regulatory and commercialisation milestones, of which €11 million is in pre-clinical milestones, in addition to single digit royalties.

Under the license, Sanofi would develop and commercialise an oral therapy for the treatment of inflammatory diseases.

At 8:58am: (LON:C4XD) C4x Discovery Holdings Plc share price was 0p at 23.8p

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