AstraZeneca triggers $11 million preclinical milestone payment to C4X Discovery under its NRF2 exclusive worldwide licence agreement worth up to $402 million

C4X Discovery Holdings plc

(“C4XD”, “C4X Discovery” or the “Company”)

3 January 2024C4X Discovery Holdings plc (AIM: C4XD), a pioneering Drug Discovery company, today announcesthat it has received a milestone payment of $11 million from AstraZeneca triggered by preclinical progress of C4XD’s NRF2 Activator programme.

Under the terms of the licensing agreement announced in November 2022, C4XD received an initial $2 million upfront payment and is potentially entitled to receive up to $400 million in preclinical, clinical development and commercial milestones, and to tiered mid-single digit royalties on future sales.

AstraZeneca is developing C4XD’s former NRF2 Activator programme to deliver an oral therapy for the treatment of inflammatory and respiratory diseases, with a lead focus on chronic respiratory disease.

Clive Dix, CEO of C4X Discovery, said: “This significant preclinical milestone payment marks the progress AstraZeneca has made in driving the NRF2 Activator programme forward. NRF2 is a challenging target and this achievement provides further validation of our ability to generate differentiated, quality molecules in immuno-inflammation. We believe that our unique approach can deliver transformative oral therapies for patients suffering from immuno-inflammatory diseases. This is a great start to our year and we are confident of seeing further progress across our entire portfolio in 2024.”

This announcement contains inside information for the purpose of the UK Market Abuse Regulations.

C4X Discovery Holdings plc

Mo Noonan, Communications +44 (0)7876 444 977

Panmure Gordon (UK) Limited (NOMAD and Broker) +44 (0)20 7886 2500

Freddy Crossley, Emma Earl (Corporate Finance)
Rupert Dearden (Corporate Broking)

Consilium Strategic Communications +44 (0)203 709 5700

Mary-Jane Elliott, Chris Gardner, Matthew Neal

C4X Discovery (“C4XD”) is a pioneering Drug Discovery company, combining scientific expertise with
cutting-edge Drug Discovery technologies to efficiently deliver worldleading medicines. We have a highly
valuable and differentiated approach to Drug Discovery through our enhanced candidate molecule design and patient stratification capabilities, generating small molecule drug candidates across multiple disease areas focused on immuno-inflammation. Our commercially attractive portfolio ranges from early-stage target opportunities to late-stage Drug Discovery programmes and we have three commercially partnered programmes with one candidate in clinical development.

For more information visit us at or follow us on twitter @C4XDiscovery.