IDEAYA inks $1.045B licensing deal with Hengrui for cancer therapy

Grafa2024-12-30

IDEAYA Biosciences (NASDAQ:DYA) has announced a major licensing agreement with Jiangsu Hengrui Pharmaceuticals for SHR-4849, a novel antibody drug conjugate (ADC) targeting DLL3, a protein highly expressed in small cell lung cancer (SCLC) and neuroendocrine tumors (NETs).

The deal grants IDEAYA exclusive global rights to develop and commercialize SHR-4849 outside of Greater China.

SHR-4849 utilizes a Topoisomerase I (Topo-I) inhibitor payload to target and destroy cancer cells expressing DLL3.

This targeted approach offers potential for improved efficacy and reduced side effects compared to traditional chemotherapy.

The agreement includes significant financial incentives for Hengrui Pharma.

They are eligible to receive up to $1.045 billion in total payments, including a $75 million upfront payment, up to $200 million in development and regulatory milestone payments, and additional commercial milestones based on sales performance.

Hengrui will also receive royalties ranging from mid-single to low-double digits on net sales outside of Greater China.

Meanwhile, IDEAYA plans to file an Investigational New Drug (IND) application with the U.S. Food and Drug Administration (FDA) for SHR-4849 in the first half of 2025.

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