Frustrated by IRA, Relay out-licenses ‘NDA-ready’ program to Elevar

A licensing deal last week was the latest development for a program its sponsor has said was affected profoundly by the Inflation Reduction Act, leading to a strategic shift.

Relay Therapeutics Inc. (NASDAQ:RLAY) has out-licensed what was once its lead program, handing off the FGFR2 inhibitor to privately held Elevar Therapeutics Inc. after determining that its planned fast-to-market strategy was no longer worth pursuing...