2022-07-07 05:10:39 EXEL Exelixis
07/07/22 07/0705:10 07/07/2205:10 | Exelixis, Ryvu enter exclusive license agreement for STING technologyExelixis and Ryvu Therapeutics announced that the companies have entered into an exclusive license agreement focused on the development of novel targeted therapies utilizing Ryvu's STING technology. The agreement expands Exelixis' portfolio of biotherapeutics by combining Ryvu's proprietary small molecule STING agonists and STING biology know-how with Exelixis' network in antibody engineering, antibody-drug conjugate, or ADC, technologies, and history of developing and commercializing oncology therapeutics. Under the terms of the agreement, Exelixis will pay Ryvu an upfront fee of $3M in exchange for certain rights to Ryvu's STING agonist small molecules, which Exelixis will seek to incorporate into targeted therapies such as ADCs. Exelixis will lead all research activities and, upon selection of each development candidate, will be responsible for all development and commercialization activities. Ryvu will provide guidance and know-how during the early research phase of the partnership, and will be eligible to receive development, regulatory and commercialization milestone payments, as well as tiered royalties on the annual net sales of any products that are successfully commercialized under the collaboration. Ryvu will also retain all development and commercial rights to develop its STING agonist portfolio as standalone small molecules. |
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