Relay Therapeutics Inks RLY-1971 License, Collaboration Deal With Genentech
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
Write to Colin Kellaher at email@example.com
(END) Dow Jones Newswires
December 14, 2020 08:48 ET (13:48 GMT)
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