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NEW YORK – Daiichi Sankyo said on Monday that it has entered into a global development and commercialization agreement with AstraZeneca for its TROP2-targeting antibody drug conjugate DS-1062.

Under the agreement, AstraZeneca will make an upfront payment of $1 billion to Daiichi Sankyo, of which $350 million is due upon execution, $325 million after a year, and $325 million after two years. Additionally, AstraZeneca may also pay up to $6 billion for achievement of regulatory or sales-related milestones.

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