Insilico Grants Exelixis Worldwide License To Develop, Commercialize ISM3091

(RTTNews) - Exelixis, Inc. (EXEL) and Insilico Medicine have entered into an exclusive license agreement granting Exelixis global rights to develop and commercialize ISM3091, a small molecule inhibitor of USP1, which has emerged as a synthetic lethal target in the context of BRCA-mutated tumors.

Insilico granted Exelixis a worldwide license to develop and commercialize ISM3091, and other USP1-targeting compounds, in exchange for an upfront payment of $80 million anticipated in the third quarter 2023. Insilico is eligible to receive future development, commercial, and sales-based milestone payments, as well as tiered royalties on net sales.

On April 17, 2023, the FDA cleared the initial Investigational New Drug application for ISM3091 for the treatment of patients with solid tumors.

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