Pharmaceutical company AstraZeneca has signed a collaboration agreement worth up to $1.77 billion with China's CSPC Pharmaceutical Group to discover and develop experimental therapies for kidney diseases.

Under the agreement, AstraZeneca will receive exclusive worldwide rights to develop, manufacture, and commercialize one preclinical nucleic acid-based therapy, while securing exclusive rights to a second candidate outside of China.

CSPC Pharmaceutical Group will receive an upfront payment of $30 million and will be eligible for up to $1.74 billion in additional milestone payments tied to the development, regulatory approval, and commercial success of the therapies.

The companies did not specify which kidney diseases the new drug candidates are intended to treat. According to the World Health Organization, approximately 674 million people worldwide are living with chronic kidney disease.

AstraZeneca and CSPC have previously collaborated on the development of treatments for obesity and obesity-related conditions.