4 September 2026 – C4X Discovery Holdings Ltd (“C4XD”), a pioneering Drug Discovery company, today announces that it will receive a $13 million milestone payment from AstraZeneca [LON: AZN], triggered by the entry of the oral NRF2 activator programme into the clinic.

Under the terms of the licensing agreement announced in November 2022, C4XD is potentially eligible to receive up to $400 million in preclinical, clinical development and commercial milestones, and to tiered mid-single digit royalties on future sales.

AstraZeneca is advancing AZD4916, an oral NRF2 activator from the programme licensed from C4XD, in a Phase I study in healthy volunteers. The programme is being developed for the treatment of inflammatory and respiratory diseases.

Nick Ray, CSO of C4X Discovery, said: “We are delighted to see the NRF2 activator programme progressing into the clinic. This is a testament to the work done by the AstraZeneca team on this very challenging target and moves the field a step closer to evaluating the potential of potent and selective NRF2 activators in a range of inflammatory diseases.”

Emma Blaney, CEO of C4X Discovery, said: “This milestone further validates the C4XD team’s ability to deliver candidate-quality molecules for a range of challenging targets across the spectrum of inflammatory disease. We have also made significant progress in our α4β7 and PAD4 programmes, and we will continue partnering discussions for the remainder of 2026. We’d like to thank our staff and investors for their continued support to advance our programmes such that we can work with the best partners to take them forward into the clinic."

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About C4X Discovery

C4X Discovery (C4XD) is a pioneering Drug Discovery company, combining scientific expertise with cutting-edge technologies to efficiently deliver world leading next-generation oral medicines. Our enhanced molecular design capabilities deliver a highly differentiated approach to drug discovery, demonstrated by three high-value programmes successfully out-licensed to date. C4XD's pipeline of small-molecule programmes spans several high-value immuno-inflammatory indications. The company is currently advancing a best-in-class oral α4β7 programme and a first-in-class PAD4 programme. Our strategy is to move these programs to candidate stage where we look to out-license or collaborate with the best partners to execute clinical development and commercialisation.

For more information visit us at www.c4xdiscovery.com