AstraZeneca (AZN) has entered into a collaboration, option and license agreement with CSPC Pharmaceutical to develop small interfering RNA (siRNA) therapies targeting kidney diseases, CSPC said Thursday.

Under the agreement, the companies will jointly discover and develop preclinical candidates for two renal disease targets using CSPC's proprietary siRNA drug discovery and extrahepatic delivery platforms, it said.

AstraZeneca will have the option to secure exclusive global or ex-China development and commercialization rights for each program, while CSPC will retain China rights to one candidate, it added.

CSPC will receive a $30 million upfront payment and is eligible for up to $540 million in development milestones and up to $1.2 billion in sales milestones, plus single-digit royalties on annual net sales, the company said.