Volastra in-licenses Amgen drug, closes $60 million financing
US clinical-stage cancer biotech Volastra Therapeutics, which is focused on exploiting chromosomal instability (CIN), today announced completion of the in-licensing of Amgen’s (Nasdaq: AMGN) sovilnesib (AMG650), an oral, first-in-class small molecule inhibitor of KIF18A.
In parallel, the company has closed a $60 million Series A financing.
Under the terms of the licensing agreement, Volastra gets an exclusive worldwide license (ex-China) to develop and commercialize sovilnesib. In return, Amgen will receive an upfront mix of cash and equity, as well as downstream milestones and royalties. Detailed financial terms were not revealed.
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