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SpringWorks In-Licenses TEAD Inhibitor Portfolio For Solid Tumor Settings

SpringWorks In-Licenses TEAD Inhibitor Portfolio For Solid Tumor Settings
  • SpringWorks Therapeutics Inc (NASDAQ: SWTX) has entered into an exclusive worldwide license agreement with Katholieke Universiteit Leuven (KU Leuven) and the Flanders Institute for Biotechnology (VIB) for the in-license of small molecule inhibitors of the TEA domain (TEAD) family of transcription factors for biomarker-defined solid tumors driven by aberrant Hippo pathway signaling.
  • The licensed portfolio includes advanced lead compounds and multiple backup compounds from diverse chemical series.
  • The company expects to nominate a development candidate and start preclinical studies in 2022.
  • Under the terms of the agreement, SpringWorks will pay KU Leuven and VIB an upfront payment of $11 million.
  • KU Leuven and VIB are also eligible to receive up to $285 million in milestone payments and tiered single-digit percentage royalties based on any future net sales.
  • The company closed the March quarter with cash and equivalents of $541 million.
  • Price Action: SWTX shares closed at 68.44 on Wednesday.

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