Day One Biopharma rises on research, licensing deal with Sprint Bioscience

Sprint Bioscience AB

16/08/2023 14:21

** Shares of therapy developer Day One Biopharmaceuticals
Inc  DAWN.O  rise 1.61%, to $14 premarket 
    ** Co announces it has entered into a license agreement and
research collaboration with Sweden-based drug developer Sprint
Bioscience  SPRINT.ST  for its VRK1 program
    ** The program targets the protein vaccinia-related kinase 1
(VRK1) involved in the regulation of cell division and DNA
damage repair
    ** The total potential value of the agreement amounts to
$316 million, plus single-digit royalties on sales of a future
drug from the program
    ** DAWN will make an upfront payment of $3 mln to SPRINT and
reimburse the latter for pre-clinical research and development
expenses
    ** Up to last close, stock down ~36% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))