By Colin Kellaher


Relay Therapeutics Inc. on Monday said it signed a worldwide license and collaboration agreement with Roche Holdings AG's Genentech unit for the development and commercialization of Relay's SHP2 inhibitor RLY-1971 in the fight against cancer.

Relay, a Cambridge, Mass., clinical-stage precision-medicine company, said it will receive an up-front payment of $75 million and an additional $25 million in near-term payments.

Relay said it is also eligible for up to $695 million in additional potential milestone payments, along with royalties on global net product sales.

The company said Genentech will assume development of RLY-1971 with the potential to expand into multiple combination studies, including with Genentech's GDC-6036, an investigational inhibitor of KRAS G12C.

As a result of the collaboration, Relay said it expects to have enough cash and investments to sustain its operations through 2024.


Write to Colin Kellaher at


(END) Dow Jones Newswires

December 14, 2020 08:48 ET (13:48 GMT)

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