Achilles Therapeutics Plc. (ACHL) announced on Tuesday that they have finalized an agreement to transfer their commercial license for data and samples from the TRACERx Non-Small Cell Lung Cancer study to AstraZeneca Plc. (AZN) for a sum of $12 million.
In addition to this transaction, AstraZeneca will provide sponsorship for the Achilles Material Acquisition Platform. This proprietary initiative has successfully gathered tumor tissue and blood samples from close to 300 cancer patients.
As part of a strategic review, Achilles, a clinical-stage biopharmaceutical company, is also planning a workforce reduction and a downsizing of its board.
At present, shares of Achilles are trading at $1.08 on the Nasdaq, marking an increase of 10.20 percent.
