Exelixis and Ryvu Therapeutics Establish Exclusive License Agreement to Develop Novel STING Agonist-Based Targeted Cancer Therapies

Exelixis, Inc. (Nasdaq: EXEL) and Ryvu Therapeutics S.A. (“Ryvu”) (Warsaw Stock Exchange: RVU) today announced that the companies have entered into an exclusive license agreement focused on the development of novel targeted therapies utilizing Ryvu’s STING (STimulator of INterferon Genes) technology. The agreement expands Exelixis’ portfolio of biotherapeutics by combining Ryvu’s proprietary small molecule STING agonists and STING biology know-how with Exelixis’ network of expertise and resources in antibody engineering, antibody-drug conjugate (ADC) technologies, and proven history of developing and commercializing oncology therapeutics.

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Under the terms of the agreement, Exelixis will pay Ryvu an upfront fee of $3 million in exchange for certain rights to Ryvu’s STING agonist small molecules, which Exelixis will seek to incorporate into targeted therapies such as ADCs. Exelixis will lead all research activities and, upon selection of each development candidate, will be responsible for all development and commercialization activities. Ryvu will provide expert guidance and know-how during the early research phase of the partnership, and will be eligible to receive development, regulatory and commercialization milestone payments, as well as tiered royalties on the annual net sales of any products that are successfully commercialized under the collaboration. Ryvu will also retain all development and commercial rights to develop its STING agonist portfolio as standalone small molecules.

“Gaining access to novel targets and technologies is an essential component of our strategy to expand our biotherapeutics pipeline, and this relationship allows Exelixis to capitalize on Ryvu’s STING-related assets and expertise,” said Peter Lamb, Ph.D., Executive Vice President, Scientific Strategy and Chief Scientific Officer, Exelixis. “Ryvu’s portfolio of STING agonists comprises compounds with diverse drug-like attributes that have been extensively characterized. This includes small molecule agonists with demonstrated activity against all STING variants that are suitable for incorporation into ADCs. We believe that these properties will support the development of novel, STING-targeted therapies with the potential to provide benefit to more patients across diverse cancer indications, which is a critical priority for everyone at Exelixis.”