Conduit licenses three AstraZeneca assets for autoimmune and infertility; issues 9.5M shares

CDT Equity Inc.

Exclusive license from AstraZeneca for HK-4 glucokinase activators AZD1656, AZD5658 and MPO inhibitor AZD5904.
Conduit pays $1.5M upfront and issues 9.5M shares to AstraZeneca; AstraZeneca gets sublicense revenue share.
AstraZeneca receives right of first negotiation if Conduit seeks third-party rights to licensed compounds.
Conduit plans to initiate Phase II trials in autoimmune disorders and idiopathic male infertility in 2024.

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