Conduit Pharmaceuticals Enters Joint Development Agreement with Manoira to Advance AZD1656 and AZD5658 in Animal Health

Core Insights - Conduit Pharmaceuticals has entered a joint development agreement with Manoira Corporation to evaluate its glucokinase activators AZD1656 and AZD5658 for veterinary applications, particularly in animal osteoarthritis [1][2][3] - The collaboration aims to generate preclinical data that will inform Conduit's human clinical programs while retaining full ownership of all related intellectual property [3][5][6] - This partnership opens new revenue streams in the growing $15 billion animal health market, projected to grow at a CAGR of 6.5% through 2027 [7][6] Company Strategy - The agreement highlights Conduit's commitment to innovative collaborations that maximize resource efficiency and pipeline potential [4] - By leveraging Manoira's expertise, Conduit aims to accelerate the development of AZD1656 and explore cross-species value through targeted programs [5][6] - The partnership is designed to enhance Conduit's competitive edge in glucokinase activator therapies and create a dual-track value proposition for shareholders [3][7] Financial Aspects - Manoira will fund all development activities, while Conduit will issue an upfront consideration of $500,000 through the issuance of 154,799 shares of common stock [8] - The collaboration is expected to reduce development timelines and costs for human clinical trials, enhancing the probability of success for AZD1656 in human indications [7][6] - The joint development agreement allows Conduit to retain exclusive rights and ownership of all new intellectual property related to AZD1656 and AZD5658 for human applications [5][4]