Conduit Pharmaceuticals Inc., which recently opened a new lab space in the UK, has entered into an agreement with AstraZeneca to exclusively license rights to develop AZD1656 and AZD5658, both HK-4 glucokinase activators, and AZD5904, a myeloperoxidase inhibitor (MPO). All three drug candidates have shown promise in early-stage clinical trials.
 
Conduit plans to initiate Phase II clinical trials for AZD1656 and AZD5658 in autoimmune disorders in 2024. The company has also secured exclusive rights to develop AZD5904 for Idiopathic Male Infertility.
 
Under the terms of the agreement, Conduit will issue shares of common stock to AstraZeneca and pay a portion of future sublicensing revenues. AstraZeneca will provide pre-clinical and clinical data, as well as drug supplies.
 
“We are delighted to have entered into an agreement with AstraZeneca to secure the rights to develop AZD1656, AZD5658, and AZD5904. The potential of these assets to become important first-in-class medicines for patients is promising. Given the data from AstraZeneca’s clinical trials, we believe there is a strong rationale to initiate Phase II studies in multiple indications to progress to commercialization of these assets,” said Dr. David Tapolczay, CEO of Conduit.
 
Conduit’s business model centers on acquiring drug candidates that have undergone initial clinical testing and accelerating their development through Phase II trials. The company intends to seek strategic partnerships or outright sales upon successful completion of this phase.