Pinetree could pocket more than $500 million from AstraZeneca deal

25 July 2024

Cambridge, Massachusetts-based Pinetree Therapeutics has entered into an exclusive option and global license agreement with Cambridge, UK-based AstraZeneca (LSE: AZN).

Pinetree is a biotech company developing targeted protein degraders to combat drug resistance in oncology and beyond, while AstraZeneca is an Anglo-Swedish pharma major active in cancer and other therapy areas.

Under the terms of the agreement, AstraZeneca will be granted an exclusive option to license Pinetree’s preclinical EGFR degrader for global development and commercialization.

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