- Drug Discovery company C4X Discovery reported narrower annual losses as its €414 million agreement with Sanofi bolstered results.

For the year ended 31 July 2021, pre-tax losses narrowed to £5.9 million from £9.6 million year-on-year, with revenue of £5.6 million.

The revenue recognised in the current year was part of the €7 million upfront payment from Sanofi on the signing of the IL-17A licence agreement.

'Following the €414 million agreement with Sanofi for our IL-17A oral Inhibitor programme, C4XD is focused on driving forward its portfolio towards future out-licensing opportunities, including NRF-2 where there is significant partnering interest,' it added.

Story provided by