(Yicai) Oct. 8 -- UK-Swedish drugmaker AstraZeneca has entered into an exclusive licensing agreement with Chinese peer CSPC Pharmaceutical Group to advance the development of an early stage novel lipid-lowering therapy.

Under the agreement, CSPC will receive an upfront payment of USD100 million for AstraZeneca to gain access to YS2302018 and is eligible for additional payments of as much as USD1.92 billion based on development and commercial milestones, along with tiered royalties.

YS2302018 has demonstrated effectiveness in preventing the formation of Lp(a), a form of low-density lipoprotein crucial in cholesterol transport. Elevated levels of Lp(a) and LDL-cholesterol are known risk factors for cardiovascular diseases, including coronary artery disease and stroke.

“This asset is an important addition to our cardiovascular pipeline and could help patients to more effectively manage their dyslipidemia and related cardiometabolic diseases,” Sharon Barr, executive vice president and head of biopharmaceuticals research and development at AstraZeneca, said in a statement released by the Cambridge-based firm yesterday.

“Given the scale of unmet need, with cardiovascular disease being a leading cause of death globally, advancing novel therapies that can be used alone or in combination to effectively address known risk factors and advance patient care is particularly important and a key part of our strategy,” Barr noted.

“Through this agreement with AstraZeneca and their global capabilities in clinical development and commercialization, we look forward to accelerating the development of YS2302018 to benefit the millions of patients worldwide living with these diseases,” CSPC’s Chairman Cai Dongchen was quoted as saying in the same statement.

Shares of CSPC [HKG: 1093] closed 0.3 percent lower at HKD7.10 (91 US cents) apiece in Hong Kong today, having climbed 44 percent since the Chinese government introduced new measures to boost the economy on Sept. 24. The Hang Seng Index has gained nearly 15 percent in the period.

Editor: Futura Costaglione