Brief: Kronos Bio Inc Enters Into A Collaboration And License Agreement With Genentech Inc

Kronos Bio

09/01/2023 13:48

Jan 9 (Reuters) - Kronos Bio Inc  KRON.O :
    * KRONOS BIO INC - ON JANUARY 6, 2023, CO  ENTERED INTO A
COLLABORATION AND LICENSE AGREEMENT WITH GENENTECH, INC
    * KRONOS BIO INC - CO AND GENENTECH TO INITIALLY COLLABORATE
ON
TWO DISCOVERY RESEARCH PROGRAMS IN ONCOLOGY
    * KRONOS BIO INC - COMPANY IS ENTITLED TO RECEIVE AN UPFRONT
PAYMENT OF $20.0 MILLION FROM GENENTECH
    * KRONOS BIO INC - CO IS ELIGIBLE FOR ADDITIONAL MILESTONE
PAYMENTS UP TO $177 MILLION FOR THE FIRST DEVELOPMENT CANDIDATE
PER HIT PROGRAM
    * KRONOS BIO INC - CO IS ELIGIBLE TO RECEIVE NET SALES
MILESTONES
OF UP TO $100 MILLION FOR THE FIRST LICENSED PRODUCT PER HIT
PROGRAM
    * KRONOS BIO INC - CO TO RECEIVE TIERED ROYALTIES IN THE
LOW-TO-HIGH SINGLE DIGITS ON PRODUCTS COMMERCIALIZED BY
GENENTECH DUE TO COLLABORATION

Source text : (https://bit.ly/3QpIMuI)
Further company coverage:  KRON.O 
 ((Reuters.Briefs@thomsonreuters.com;))