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AstraZeneca, Alchemia in multi-target drug discovery collaboration

Alchemia Limited, a drug discovery and development company, announces that it has signed a multi-target, drug discovery collaboration with AstraZeneca. This collaboration includes the use of the proprietary Diversity Scanning Array and associated Versatile Assembly on Stable Templates chemistry platform to discover and develop novel small molecules against multiple AstraZeneca targets. Alchemia will provide VAST chemistry expertise to develop small molecule clinical candidates for AstraZeneca. By accessing Alchemia's VAST discovery platform, AstraZeneca will seek novel small molecules to treat diseases across a variety of therapeutic areas including oncology, respiratory, cardiovascular, metabolism, infection and neuroscience. Under the terms of this Agreement, Alchemia will receive an undisclosed upfront payment and is eligible for potential preclinical, clinical and commercial launch payments totaling up to $240M, as well as a single digit royalty.