Singapore, Jan. 21 -- US-based AbelZeta Pharma, Inc., a global clinical-stage biopharmaceutical company focused on the discovery and development of innovative and proprietary cell-based therapeutic products, has announced that AstraZeneca has agreed to acquire AbelZeta's 50% share of the China development and commercialisation rights to C-CAR031, such that AstraZeneca acquires the sole right to develop, manufacture and commercialise C-CAR031 globally.

Under the terms of the agreement, AbelZeta will be entitled to receive up to $630 million from AstraZeneca including an upfront payment, and development, regulatory and sales milestone payments for the GPC3 programme in China.

Under the terms of a prior agreement with AbelZeta, AstraZeneca...