- Relay Therapeutics (NASDAQ:RLAY) has signed a worldwide license and collaboration agreement with Genentech, a member of the Roche Group (OTCQX:RHHBY), for the development and commercialization of RLY-1971, with potential to expand into multiple combination studies including Genentech’s investigational inhibitor of KRAS G12C, GDC-6036.
- Under the terms of the agreement, the company will receive $75M upfront and is eligible to receive $25M in additional payments, with up to $695M in milestone payents, plus royalties ranging from the low-to-mid-teens.
- “RLY-1971 has the potential to serve as a backbone for combination therapy across numerous solid tumors and therefore represents an encouraging approach for cancer patients,” said Sanjiv Patel, M.D., president and chief executive officer of Relay Therapeutics.
- Relay Therapeutics anticipates to have enough cash and investments to sustain its operations through 2024, on executing collaboration.