Skyhawk will use its SkySTARTM platform to develop drug candidates directed to multiple targets for oncology and neurodegenerative diseases. In exchange Skyhawk will receive an upfront payment and may be eligible for more than $2 billion over time, including opt-in fees and milestone payments plus royalties on sales of commercialized medicines.
WALTHAM, Mass., July 16, 2019 /PRNewswire/ -- Skyhawk Therapeutics, Inc. (Skyhawk) today announced that it has entered into a multi-target exclusive option and license agreement with Genentech, a member of the Roche Group, to develop and commercialize small molecules that modulate RNA splicing. Skyhawk will use its SkySTARTM technology platform to discover and develop innovative small molecule treatments directed to certain oncology and neurological disease targets. The agreement grants Genentech an exclusive worldwide license to develop and commercialize potential therapeutics directed to multiple targets while Skyhawk receives an upfront payment and is eligible to receive future payments and royalties. As part of the agreement, Genentech will be responsible for clinical development and commercialization.
"Genentech has long been a leader in advancing drug discovery for oncology and neurodegenerative disorders," said Bill Haney, co-founder and chief executive officer of Skyhawk. "We look forward to continuing to demonstrate the utility of SkySTAR™ to discover novel RNA splicing modifiers directed to targets important in the treatment of neurodegenerative diseases and cancer. We share Genentech's passion for transforming patients' lives and look forward to working with the Genentech team to potentially expand the treatment options available to patients."
"Modulation of RNA splicing represents a novel approach for difficult-to-treat diseases," said James Sabry, M.D., Ph.D., global head of Pharma Partnering, Roche. "Skyhawk has developed unique expertise in splicing biology, and we are excited to work with their team to discover potential new medicines for patients with cancer and neurodegenerative diseases."
About Skyhawk Therapeutics
Skyhawk Therapeutics is committed to discovering, developing and commercializing therapies that use its novel SkySTARTM (Skyhawk Small molecule Therapeutics for Alternative splicing of RNA) platform to build small molecule drugs that bring breakthrough treatments to patients.
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SOURCE Skyhawk Therapeutics