FibroGen Receives $120 Mn License Payment From AstraZeneca

(RTTNews) - FibroGen, Inc. (FGEN) said Monday that it has received a scheduled $120.0 million non-contingent license payment from AstraZeneca AB under its collaboration agreements with AstraZeneca for roxadustat in the United States, China and certain other territories.

In addition to the non-contingent license payment of $120.0 million, FibroGen received a $15.0 million milestone payment from AstraZeneca during the second quarter of 2015 in connection with the completion of long-term preclinical safety studies of roxadustat.

On a pro-forma basis, FibroGen expects to have about $410 million to $415 million of cash, cash equivalents, investments, and receivables on June 30.

Roxadustat is currently in Phase 3 global development for the treatment of anemia in patients with chronic kidney disease on dialysis and not on dialysis. Regulatory filings are expected to be submitted in 2016 for China and in 2018 for the US.