RTTNews | Dec 14, 2020 06:25AM EST

06:25 Monday, December 14, 2020 (RTTNews.com) - Precision medicine company Relay Therapeutics, Inc. (RLAY) announced Monday that it has entered into a worldwide license and collaboration agreement with Roche Group subsidiary Genentech Inc. for the development and commercialization of RLY-1971, a potent inhibitor of SHP2.

Genentech will assume development of RLY-1971 with the potential to expand into multiple combination studies including with Genentech's investigational inhibitor of KRAS G12C, GDC-6036.

Under the terms of the agreement, Relay Therapeutics will receive $75 million upfront payment and is eligible to receive $25 million in additional near-term payments and $695 million in additional potential milestones, plus royalties on global net product sales.

Relay Therapeutics also has the right to opt in to a 50/50 U.S. profit/cost share on RLY-1971 and up to $410 million in additional ex-U.S. commercialization and sales-based milestone payments, as well as royalties on ex-U.S. net sales.

Relay Therapeutics retains the right to combine RLY-1971 with its selective FGFR2 and mutant-selective PI3K programs.

With the execution of this collaboration, Relay Therapeutics anticipates it will have cash and investments to sustain its operations through 2024.

Read the original article on RTTNews ( https://www.rttnews.com/3153340/relay-therapeutics-global-license-and-collaboration-deal-with-genentech-for-rly-1971-quick-facts.aspx)

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