IDEAYA, GlaxoSmithKline Announce Strategic Partnership In Synthetic Lethality - Quick Facts

(RTTNews) - IDEAYA Biosciences, Inc. (IDYA) and GlaxoSmithKline plc (GSK) announced Tuesday a broad strategic partnership in Synthetic Lethality, an emerging field in Precision Medicine Oncology.

This partnership covers three IDEAYA Synthetic Lethality programs - MAT2A, Pol Theta and Werner Helicase, which are projected to reach clinical trials within the next three years. It will also explore combinations between IDEAYA and GSK programs.

IDEAYA will receive a $100 million upfront cash payment, and $20 million equity purchase of IDEAYA common stock in a direct private placement, and a potential $50 million cash option exercise fee for the MAT2A program. IDEAYA is also entitled to receive potential preclinical, clinical and sales milestones.

Further, IDEAYA will receive a 50% US profit share for the MAT2A and Werner Helicase programs and is responsible for 20% of global development costs for 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.

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.