Brief: Erasca Enters Into License Agreement With Novartis Pharma

Erasca

09/12/2022 13:55

Dec 9 (Reuters) - Erasca Inc. ERAS.O :
    * ERASCA INC - ENTERED INTO AN EXCLUSIVE LICENSE AGREEMENT
WITH
NOVARTIS PHARMA AG
    * ERASCA INC - UNDER LICENSE AGREEMENT, CO WILL MAKE AN
UPFRONT
CASH PAYMENT TO NOVARTIS OF $20 MILLION
    * ERASCA INC - UNDER LICENSE AGREEMENT CO ISSUED TO NOVARTIS
SHARES OF COMMON STOCK OF COMPANY HAVING AN AGGREGATE VALUE OF
APPROXIMATELY $80 MILLION
    * ERASCA INC- CO IS OBLIGATED TO MAKE FUTURE REGULATORY
MILESTONE
PAYMENTS OF UP TO $80 MILLION AND SALES MILESTONE PAYMENTS OF UP
TO $200 MILLION
    * ERASCA INC - CO IS OBLIGATED TO PAY ROYALTIES ON NET SALES
OF
ALL LICENSED PRODUCTS, IN THE LOW-SINGLE DIGIT PERCENTAGES,
SUBJECT TO SOME REDUCTIONS
    * ERASCA INC - COMPANY WILL HAVE A FULLY PAID-UP, PERPETUAL,
AND
IRREVOCABLE LICENSE TO DEVELOP, MANUFACTURE, USE, AND
COMMERCIALIZE LICENSED PRODUCTS

Further company coverage:  ERAS.O 
 ((Reuters.Briefs@thomsonreuters.com;))