FibroGen gets $120 million license payment from AstraZeneca
US biotech firm FibroGen (Nasdaq: FGEN) has received a scheduled $120.0 million non-contingent license payment from AstraZeneca (LSE: AZN) under its collaboration agreements with the Anglo-Swedish pharma major for roxadustat in the USA, China and certain other territories.
In addition to this non-contingent license payment of $120.0 million, as previously announced, FibroGen received a $15.0 million milestone payment from AstraZeneca during the second quarter of 2015 in connection with the completion of long-term preclinical safety studies of roxadustat. On a pro-forma basis, FibroGen expects to have approximately $410 million to $415 million of cash, cash equivalents, investments, and receivables on June 30, 2015 (unaudited), under the terms of the up to $815 million deal with AstraZeneca (The Pharma Letter July 31, 2013).
Roxadustat is first HIF-PHI to enter Phase III clinical development
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