5 June 2020 - - US-based Accent Therapeutics and British-Swedish pharmaceutical company AstraZeneca (LSE: AZN) (NYSE: AZN) will collaborate to discover, develop and commercialise transformative therapeutics targeting RNA-modifying proteins for the treatment of cancer, the companies said.

The collaboration combines Accent's expertise in the biology, target identification and drug discovery of RMP-targeting therapies with AstraZeneca's industry leading expertise in oncology.

Inhibition of RMPs is a new approach for addressing RNA pathobiology by targeting proteins that control many aspects of RNA biology.

This class of targets represents a vast field of potentially important targets for cancer and other diseases.

Under the terms of the collaboration agreement, Accent will be responsible for research and development activities for a nominated preclinical program through to the end of Phase I clinical trials.

Following completion of Phase I, AstraZeneca will lead development and commercialization activities for the nominated program, with Accent having the option to jointly develop and commercialize with AstraZeneca in the US.

AstraZeneca will also have the exclusive option to license worldwide rights to two further preclinical discovery programs, for which Accent will conduct certain preclinical activities.

Accent will receive an upfront payment of USD 55m and, in the event that Accent elects to jointly develop the nominated program, is eligible to receive up to USD 1.1bn in additional success-based payments across all programmes in the form of option fees and milestone payments, as well as tiered royalties on net sales ranging from mid-single digit to low-double digits.

In the event Accent opts into co-developing and co-commercializing the nominated program, profits and losses will be split in the US.

Accent Therapeutics is a biopharmaceutical company developing oncology-focused, small molecule therapies in the emerging field of RNA modification.

This field of biology encompasses post-transcriptional chemical modifications of RNA that provide cells with a unique mechanism for regulating proteins critical for cellular growth and differentiation.

By targeting cancer-linked RNA-modifying proteins with precision therapies, the company aims to translate extraordinary science into life-changing therapies for patients.