SOUTH SAN FRANCISCO, Calif. and
LONDON, June 16, 2020 /PRNewswire/ -- IDEAYA
Biosciences, Inc. (Nasdaq: IDYA) and GlaxoSmithKline plc (GSK)
announce a strategic partnership in Synthetic Lethality, an
emerging field in Oncology.
The strategic partnership includes IDEAYA's Synthetic Lethality
programs MAT2A, Pol Theta, and Werner Helicase programs, which are
projected to reach clinical trials within the next three
years. IDEAYA has solved the crystal structures for each of
its MAT2A, Pol Theta and Werner Helicase programs, enabling
structure-based drug design, and has demonstrated in vivo proof of
concept in relevant animal models for its MAT2A and Pol Theta
programs.
Synthetic Lethality is one of four core research focus
areas for GSK in oncology. In synthetic lethality, cells
tolerate the loss of single genes in isolation but not together in
combination. When tumor suppressor genes are functionally lost in
cancer, this mode of action can be used to exploit tumor-specific
vulnerabilities through new medicines for patients with cancer.
"GSK is the ideal strategic partner for IDEAYA, as this
partnership enables compelling potential combinations and the
opportunity to build the industry leading Synthetic Lethality
pipeline that targets molecularly defined populations in several
major solid tumors, including potentially lung, prostate, breast,
colorectal, and ovarian cancer," said Yujiro S. Hata, Chief Executive Officer and
President, IDEAYA Biosciences.
IDEAYA will lead the MAT2A program through early clinical
development. IDEAYA is responsible for all costs of the MAT2A
program prior to the GSK option exercise. Thereafter, IDEAYA
is responsible for 20% of global development costs.
IDEAYA will receive a 50% US profit share and ex-US royalties
for the MAT2A and Werner Helicase programs and is responsible for
20% of global development costs for licensed products being
developed with GSK. IDEAYA will receive global royalties for
the Pol Theta program, and GSK will cover all research,
development, and commercialization costs. GSK will be responsible
for all commercialization activities and costs globally for
licensed products. The collaboration agreement is conditional upon
customary conditions including regulatory review by the appropriate
regulatory agencies under the Hart-Scott-Rodino Act.
"GSK and IDEAYA have a vision to bring the next generation of
innovative precision medicine therapies to patients utilizing the
approach of Synthetic Lethality, and a highly complementary
pipeline that has the potential to deliver transformative benefit
for patients," said Michael Dillon,
Ph.D., Chief Scientific Officer, IDEAYA Biosciences.
IDEAYA Conference Call
At 5:00 a.m. Pacific Time /
8:00 a.m. Eastern Time today,
IDEAYA's management will host a conference call and a simultaneous
webcast presentation to discuss the transaction. The webcast
presentation call can be accessed during the call by visiting the
"Investors / News and Events / Presentation" section of IDEAYA's
website at www.ideayabio.com. Please connect to the website prior
to the start of the call to allow adequate time for any software
download that may be required. A replay of the webcast will be
available through approximately fourteen days following the live
presentation webcast.
About IDEAYA Biosciences
IDEAYA is an oncology-focused
precision medicine company committed to the discovery and
development of targeted therapeutics for patient populations
selected using molecular diagnostics. IDEAYA's approach
integrates capabilities in identifying and validating translational
biomarkers with small molecule drug discovery to select patient
populations most likely to benefit from the targeted therapies
IDEAYA is developing. IDEAYA is applying these capabilities
across multiple classes of precision medicine, including direct
targeting of oncogenic pathways and synthetic lethality – which
represents an emerging class of precision medicine
targets.
About GSK in Oncology
GSK is focused on maximising
patient survival through transformational medicines. GSK's pipeline
is focused on immuno-oncology, cell therapy, cancer epigenetics,
and synthetic lethality. Our goal is to achieve a sustainable flow
of new treatments based on a diversified portfolio of
investigational medicines utilising modalities such as small
molecules, antibodies, antibody drug conjugates and cells, either
alone or in combination.
About GSK
GSK is a science-led global healthcare
company with a special purpose: to help people do more, feel
better, live longer. For further information please
visit www.gsk.com/about-us.
Forward-Looking Statements
This press release contains
forward-looking statements, including, but not limited to,
statements related to (i) the potential for cash payments related
to MAT2A program option exercise and preclinical, clinical and
sales milestones, (ii) the potential clinical combination of IDEAYA
and GSK programs, (iii) the timing of IDEAYA's Synthetic Lethality
programs reaching clinical trials, (iv) the potential for an
industry leading pipeline and potential solid tumor types to be
addressed, and (v) the ability to deliver transformative value to
patients. Such forward-looking statements involve substantial risks
and uncertainties that could cause IDEAYA's preclinical and
clinical development programs, future results, performance or
achievements to differ significantly from those expressed or
implied by the forward-looking statements. Such risks and
uncertainties include, among others, the uncertainties inherent in
the drug development process, including IDEAYA's programs' early
stage of development, the process of designing and conducting
preclinical and clinical trials, the regulatory approval processes
including Hart Scott Rodino Antitrust Improvements Act clearance,
the timing of regulatory filings, the challenges associated with
manufacturing drug products, IDEAYA's ability to successfully
establish, protect and defend its intellectual property, the
effects on IDEAYA's business of the worldwide COVID-19 pandemic,
and other matters that could affect the sufficiency of existing
cash to fund operations. IDEAYA undertakes no obligation to update
or revise any forward-looking statements. For a further description
of the risks and uncertainties that could cause actual results to
differ from those expressed in these forward-looking statements, as
well as risks relating to the business of IDEAYA in general, see
IDEAYA's recent Quarterly Report on Form 10-Q filed on May 12, 2020 and any current and periodic reports
filed with the U.S. Securities and Exchange Commission.
Cautionary statement regarding forward-looking
statements
GSK cautions investors that any forward-looking
statements or projections made by GSK, including those made in this
announcement, are subject to risks and uncertainties that may cause
actual results to differ materially from those projected. Such
factors include, but are not limited to, those described under Item
3.D "Risk Factors" in the company's Annual Report on Form 20-F for
2019 and any impacts of the COVID-19 pandemic.
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Registered Office:
980 Great West Road
Brentford, Middlesex
TW8 9GS
Investor and Media Contact
IDEAYA Biosciences
Paul Stone
Chief Financial Officer
investor@ideayabio.com
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SOURCE IDEAYA Biosciences, Inc.