Ideaya Biosciences Inc (NASDAQ:IDYA) saw its stock climb 6.9% in premarket trading on Tuesday after announcing an exclusive licensing agreement with French pharmaceutical company Servier for its eye cancer therapy, darovasertib.
Under the agreement, Servier will gain regulatory and commercial rights for darovasertib in all territories outside the United States, while Ideaya retains U.S. rights. Ideaya will receive an upfront payment of $210 million and could earn up to $320 million more in milestone payments tied to regulatory and commercial achievements, in addition to double-digit royalties on net sales outside the U.S.
Darovasertib is a protein kinase C (PKC) inhibitor in development for primary and metastatic uveal melanoma (UM), a rare and aggressive eye cancer. The therapy has received FDA Breakthrough Therapy Designation as a neoadjuvant treatment and Fast Track designation in combination with crizotinib for metastatic UM.
“This partnership enables IDEAYA and Servier to accelerate the global development for darovasertib across three Phase 3 registrational trials, aiming to improve patient outcomes in the neoadjuvant, adjuvant and metastatic settings,” said Yujiro S. Hata, President and CEO of Ideaya Biosciences.
Both companies will collaborate on the drug’s development and share associated costs. Darovasertib is currently being tested in multiple global clinical trials, with median progression-free survival data from a Phase 2/3 trial expected between year-end 2025 and Q1 2026.
Ideaya Biosciences stock price
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