Exelixis and Insilico in License Pact on Tumor Inhibitor

 ISM3091 is a highly selective, orally bioavailable small molecule inhibitor of USP1 identified through Insilico Medicine’s artificial intelligence (AI) platform, with potent activity in BRCA-mutated tumor models —

— In April 2023, the U.S. Food and Drug Administration (FDA) cleared Insilico’s Investigational New Drug application (IND) for ISM3091 in patients with solid tumors —

Exelixis, Inc. (Nasdaq: EXEL) and Insilico Medicine ("Insilico") today announced that the companies have entered into an exclusive license agreement granting Exelixis global rights to develop and commercialize ISM3091, a potentially best-in-class small molecule inhibitor of USP1, which has emerged as a synthetic lethal target in the context of BRCA-mutated tumors.

Under the terms of the agreement, Insilico granted Exelixis an exclusive, worldwide license to develop and commercialize ISM3091, and other USP1-targeting compounds, in exchange for an upfront payment to Insilico of $80 million anticipated in the third quarter 2023. Insilico is also eligible to receive future development, commercial, and sales-based milestone payments, as well as tiered royalties on net sales.

https://finance.yahoo.com/news/exelixis-insilico-medicine-enter-exclusive-120000319.html