June 16, 2020 / 10:09 AM / 21 days ago

BRIEF-Ideaya And GSK Announce Partnership In Synthetic Lethality

June 16 (Reuters) - GSK Podderzhka OAO:

* IDEAYA AND GSK ANNOUNCE A BROAD PARTNERSHIP IN SYNTHETIC LETHALITY, AN EMERGING FIELD IN PRECISION MEDICINE ONCOLOGY

* IDEAYA BIOSCIENCES INC - PARTNERSHIP COVERS THREE IDEAYA SYNTHETIC LETHALITY PROGRAMS AND WILL EXPLORE COMBINATIONS BETWEEN IDEAYA AND GSK PROGRAMS

* IDEAYA- WILL RECEIVE $100 MILLION UPFRONT CASH PAYMENT, AND $20 MILLION EQUITY PURCHASE OF IDEAYA STOCK

* IDEAYA BIOSCIENCES - CO WILL RECEIVE A $100 MILLION UPFRONT CASH PAYMENT, AND $20 MILLION EQUITY PURCHASE OF IDEAYA COMMON STOCK IN A DIRECT PRIVATE PLACEMENT

* IDEAYA BIOSCIENCES INC - IDEAYA IS ALSO ENTITLED TO RECEIVE POTENTIAL PRECLINICAL, CLINICAL AND SALES MILESTONES

* IDEAYA- WILL RECEIVE POTENTIAL $50 MILLION CASH OPTION EXERCISE FEE FOR MAT2A PROGRAM

* IDEAYA BIOSCIENCES- WILL RECEIVE 50% US PROFIT SHARE FOR MAT2A AND WERNER HELICASE PROGRAMS

* IDEAYA BIOSCIENCES - CO WILL RECEIVE GLOBAL ROYALTIES FOR POL THETA PROGRAM, AND GSK WILL COVER ALL RESEARCH, DEVELOPMENT, AND COMMERCIALIZATION COSTS Source text for Eikon: Further company coverage:

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