IDEAYA Biosciences, Inc. announced on December 29, 2024, an exclusive license agreement with Jiangsu Hengrui Pharmaceuticals Co., Ltd. for SHR-4849, a novel DLL3-targeting Topo-I-payload ADC program, now referred to as IDE849. IDEAYA will develop and commercialize IDE849 worldwide outside of Greater China.
Under the terms, Hengrui Pharma is eligible to receive upfront and milestone payments totaling $1.045 billion, including a $75 million upfront fee and up to $200 million in development and regulatory milestone payments, plus commercial success-based milestones and royalties. The upfront and projected R&D costs do not alter IDEAYA's cash runway guidance of at least 2028.
Preliminary Phase 1 clinical data from Hengrui's ongoing trial in China showed promising antitumor activity, with 8 partial responses observed among 11 evaluable small cell lung cancer (SCLC) patients at therapeutic dose levels, resulting in an overall response rate of approximately 73%. IDEAYA is targeting to file a US IND for IDE849 in the first half of 2025.
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