Ex­elix­is, Storm join up in col­lab­o­ra­tion and li­cense agree­ment; Teligent files for bank­rupt­cy

Ex­elix­is and RNA-fo­cused biotech Storm Ther­a­peu­tics en­tered in­to an ex­clu­sive col­lab­o­ra­tion and li­cense agree­ment, the com­pa­nies joint­ly an­nounced to­day.

The deal is for dis­cov­er­ing and ad­vanc­ing on­col­o­gy can­di­dates — ini­tial­ly fo­cus­ing on ADAR1 and then ex­plor­ing an undis­closed tar­get.

Ex­elix­is will pay Storm $17 mil­lion up­front and pro­vide re­search fund­ing, in ex­change for li­cens­ing two of Storm’s dis­cov­ery pro­grams tar­get­ing RNA mod­i­fy­ing en­zymes, in­clud­ing ADAR1.

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