Sept. 12 Quick Takes: Exelixis takes rights to Insilico’s synthetic lethal molecule
Plus: Vertex, Septerna in GPCR deal and updates from Pierre Fabre, Vertical, Traverse, Genmab, Neurocrine, Rome, CymaBay
A licensing deal with Insilico Medicine Inc. has given Exelixis Inc. (NASDAQ:EXEL) worldwide rights to a USP1 inhibitor program, including lead molecule ISM3091. Exelixis said the synthetic lethal target is implicated in treating BRCA-mutant tumors. In April, FDA cleared an IND for the program, and Exelixis expects to start Phase I testing. Privately held Insilico is to receive $80 million up front, and is eligible for undisclosed milestones, plus royalties.
Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) is paying venture-backed Septerna Inc. $47.5 million up front to acquire a program in discovery against an undisclosed GPCR target. The South San Francisco-based biotech is eligible for additional payments tied to a preclinical milestone and use of its GPCR Native Complex platform, from which the partnered program was derived. Launched last year with a series A led by Third Rock Ventures, Septerna added $150 million in a July 2023 series B round led by RA Capital Management...