Kronos Bio gains on oncology deal with Roche's unit Genentech

Kronos Bio

09/01/2023 13:19

** Cancer therapy developer Kronos Bio Inc's shares  KRON.O 
rise 28.5% at $2.2 premarket
    ** Co enters into an oncology discovery collaboration with  
  Swiss drugmaker Roche's  ROG.S  unit Genentech  urn:newsml:reuters.com:*:nGNX8Pn0xB
    **  Under terms, both company researchers will collaborate
using KRON's proprietary drug discovery platform, to build upon
research conducted to date by Genentech
    ** KRON will receive an upfront payment of $20 mln and will
be eligible for certain additional milestone based payments,
which could total up to $554 mln 
    ** KRON will lead discovery and research activities to a
defined preclinical point, after which Genentech will have the
exclusive right to pursue further preclinical and clinical
development and commercialization
    ** In 2022, KRON fell 88.1% YTD 
 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))