Conduit Pharmaceuticals has entered into an exclusive license agreement with AstraZeneca on August 7, 2024, acquiring rights to three clinical assets: HK-4 Glucokinase activators AZD1656 and AZD5658 for autoimmune indications, and myeloperoxidase inhibitor AZD5904 for idiopathic male infertility. The deal includes a $1.5 million upfront payment and the issuance of 9,504,465 shares of Conduit's common stock to AstraZeneca.The agreement grants Conduit exclusive development and commercialization rights, with AstraZeneca receiving tiered percentages of potential sublicense revenues. AstraZeneca will provide preclinical and clinical data, supply certain quantities of the compounds, and retain a right of first negotiation for future development and commercialization opportunities. Both AZD1656 and AZD5904 have previously completed Phase I trials.Conduit plans to initiate Phase II clinical trials in 2024, focusing on autoimmune disorders which affect approximately 10% of the population. The company's business model focuses on accelerating Phase II-ready assets through clinical trials and seeking exits through third-party license deals, rather than pursuing full commercial development.

Conduit Pharmaceuticals has entered into an exclusive license agreement with AstraZeneca on August 7, 2024, acquiring rights to three clinical assets: HK-4 Glucokinase activators AZD1656 and AZD5658 for autoimmune indications, and myeloperoxidase inhibitor AZD5904 for idiopathic male infertility. The deal includes a $1.5 million upfront payment and the issuance of 9,504,465 shares of Conduit's common stock to AstraZeneca.The agreement grants Conduit exclusive development and commercialization rights, with AstraZeneca receiving tiered percentages of potential sublicense revenues. AstraZeneca will provide preclinical and clinical data, supply certain quantities of the compounds, and retain a right of first negotiation for future development and commercialization opportunities. Both AZD1656 and AZD5904 have previously completed Phase I trials.Conduit plans to initiate Phase II clinical trials in 2024, focusing on autoimmune disorders which affect approximately 10% of the population. The company's business model focuses on accelerating Phase II-ready assets through clinical trials and seeking exits through third-party license deals, rather than pursuing full commercial development.