Relay Thera out-licenses lirafugratinib to Elevar
Shares of US precision medicines firm Relay Therapeutics (Nasdaq: RLAY) closed down 6% at $4.39 yesterday after announced a licensing deal for its lirafugratinib.
Relay revealed that Elevar Therapeutics, a South Korean company that is majority-owned by HLB (Kosdaq: 028300), has been granted an exclusive global licensing agreement for lirafugratinib (RLY-4008).
Lirafugratinib is a selective oral small molecule inhibitor of fibroblast growth factor receptor 2 (FGFR2) that is being developed for patients with FGFR2-driven cholangiocarcinoma (CCA) and other FGFR2-altered solid tumors. The announcement of the partnership follows Relay’s recent positive Food and Drug Administration (FDA) interaction and previously reported differentiated data in cholangiocarcinoma and data across other solid tumors, the company explained.
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