Ignyta Acquires Exclusive Rights to Taladegib Oncology Program from Lilly for $2M, ~1.2M Ignyta Shares

Ignyta, Inc.

today announced the exclusive license of worldwide rights relating to Eli Lilly and Company's taladegib oncology development program in exchange for an upfront payment of $2.0 million in cash and the issuance to Lilly of approximately 1.2 million shares of Ignyta's common stock. Taladegib is a potent, orally bioavailable small molecule hedgehog/smoothened antagonist that has achieved clinical proof-of-concept and a recommended Phase 2 dose based on results from prior clinical studies. Ignyta also licensed exclusive worldwide rights to the topical formulation of taladegib, which is a late preclinical program being developed for the potential treatment of patients with superficial and nodular basal cell carcinoma.