Ideaya wins first milestone in GSK deal as cancer drug reaches clinical trials

Aug. 29, 2022 6:26 AM ETIDEAYA Biosciences, Inc. (IDYA)GSKBy: Dulan Lokuwithana, SA News Editor

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  • IDEAYA Biosciences, Inc. (NASDAQ:IDYA), a biotech focused on cancer drugs, announced Monday that the company achieved its first development milestone related to a collaboration with GSK (GSK) over a cancer drug called Pol Theta Helicase Inhibitor Development Candidate (DC).
  • IDYA has partnered with GSK to conduct IND-enabling studies for a drug combination involving Pol Theta Helicase DC and GSK's PARP inhibitor for certain cancer patients.
  • Per the terms, IDYA is entitled to receive up to $20M worth of preclinical and clinical milestones, including $10M for IND effectiveness.
  • The companies expect to file regulatory submissions seeking clearance to begin first-in-human studies for Pol Theta Helicase DC in H1 2023.
  • Days ago, IDYA shares plunged after the company announced that GSK waived its exclusive license to further develop and commercialize experimental cancer therapy IDE397 and other IDEAYA compounds that target a specific genetic setup of cancer.

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