AstraZeneca and Accent reach partnership to develop targeted RNA modified protein therapy

, June 5 (UPI) -- AstraZeneca announced on June 4 that it will develop and commercialize conversion therapy for targeted RNA modified proteins (RMPs) in collaboration with Accent TherapeuticsAccent Therapeutics is a company founded by Chinese scientist Professor Chuan He and Professor Howard Chang, among others, for the development of RNA modified protein drugsUnder the agreement, Accent will be responsible for the preclinical development of the designated project until the end of Phase I clinical trialsAfter Phase I clinical trials, AstraZeneca will lead the development and commercialization of the project, and Accent has the option to jointly develop and commercialize with AstraZeneca in the United StatesAstraZeneca will also have a global exclusive option for two other preclinical programsIn this transaction, Accent will receive an advance payment of $55 million and will be eligible for additional funding in the form of options and mileage in other areas, as well as tiered royalties of several to a dozen percent of net salesIf Accent chooses to develop and co-commercialize the specified product at a later stage, its profit and loss will be distributed separatelyThe partnership focuses on RMP inhibitors, and in April, Accent completed a $63 million round B financing to advance research into its targeted RNA modifier proteins METTL3 and ADAR1, and continue to expand its research pipeline