EXEL - Exelixis to pay Ryvu $3M upfront in license deal to develop targeted cancer drugs

• Exelixis ( NASDAQ: EXEL ) signed a licensing agreement with Poland-based Ryvu Therapeutics to develop novel targeted cancer therapies.
• Under the terms of the agreement, Exelixis will pay Ryvu $3M upfront in exchange for certain rights to Ryvu's STING agonist small molecules, which Exelixis will seek to incorporate into targeted therapies such as antibody-drug conjugate (ADC).
• The collaboration aims to use Ryvu's proprietary small molecule STING agonists and STING biology know-how with Exelixis' expertise in antibody engineering and ADC technologies.
• Exelixis will lead all research activities and after selection of each development candidate, will be take up all development and commercialization activities.
• Ryvu will provide guidance and know-how during the early research phase and will be eligible to receive development, regulatory and commercialization milestone payments, plus royalties on any products sold.
• Ryvu will also retain all developing and selling rights to develop its STING agonist portfolio as standalone small molecules.
• Exelixis ( EXEL ) said that the STING pathway can be activated in immune cells in the tumor microenvironment and in tumor cells and induce innate and adaptive immunity by activating antigen presenting cells, cytotoxic T cells and natural killer cells.

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