CSPC PHARMA (ASX: 01093) has announced that it has received a $25 million research and development milestone payment from AstraZeneca PLC (ASX: AZN).

This payment is part of a strategic collaboration and licensing agreement between the two companies, which aims to leverage CSPC's long-acting delivery technology platform and AI-driven peptide drug discovery platform to develop innovative long-acting peptide therapeutics.

The company's board of directors noted that this milestone payment, received on July 10, 2026, follows an initial upfront payment received on May 29, 2026, under the same agreement.

The achievement of this milestone signifies that the related research and development work under the agreement is progressing steadily according to plan.