Relay Therapeutics Signs Global Licensing Deal With Elevar Therapeutics for Lirafugratinib

MT Newswires Live

Dec 03, 2024

Relay Therapeutics (RLAY) and HLB's unit Elevar Therapeutics said Tuesday that the companies agreed to an up to $500 million exclusive global licensing deal for lirafugratinib.

Under the agreement, Relay Therapeutics will receive up to $75 million in upfront and regulatory milestone payments, $425 million in commercial milestone payments, plus double-digit royalties on global sales.

Additionally, Elevar Therapeutics is responsible for the further development and commercialization of lirafugratinib.

Lirafugratinib is currently under development as a potential treatment for bile duct cancer and other fibroblast growth factor receptor 2-altered solid tumors, according to the statement.

Shares of Relay Therapeutics were down 3.4% in recent trading.

Price: 4.51, Change: -0.16, Percent Change: -3.43

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