RLAY - Relay Therapeutics acquires ZebiAI
Relay Therapeutics (RLAY) announces the acquisition of ZebiAI, a pioneer in applying massive experimental DNA encoded library data sets to power machine learning for drug discovery (ML-DEL).As per the terms, RLAY will pay $85M upfront, comprised of $20M in cash and $65M in RLAY common stock.ZebiAI stockholders are also eligible to receive up to an additional $85M in the platform and program-related milestone payments, payable in RLAY common stock.Also, suppose RLAY enters partnering or collaboration agreements related to ZebiAI's platform. In that case ZebiAI stockholders are eligible to receive 10% of the payments received within the next three years, up to an aggregate cap of $100M payable in cash.The acquisition is subject to customary closing conditions.Post-closing, RLAY expects its current cash and cash equivalents will be sufficient to fund its current operating plan into 2024.
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Relay Therapeutics acquires ZebiAI