Aadi Bioscience selling Fyarro and infrastructure for $100M

Aadi Bioscience (AADI) announced that Kaken Pharmaceutical, an R&D driven pharmaceutical company in Japan, has entered into a stock purchase agreement under which Kaken will acquire Aadi Subsidiary and all of its assets, including Fyarro and associated infrastructure, including the majority of Aadi employees who support the Fyarro business. Fyarro is approved by the FDA for the treatment of adult patients with locally advanced unresectable or metastatic malignant perivascular epithelioid cell tumor, with cumulative revenue of $25.2M reported over the prior four quarters ended September 30, 2024. The transaction is expected to close in 1H25, subject to Aadi stockholder approval and certain closing conditions. Upon the closing of this transaction, Kaken will also acquire the rights to the Aadi name and trademark. The net proceeds from the PIPE financing and the sale of Kaken, together with the company’s existing cash, cash equivalents and marketable securities are expected to fund operations into late-2028, including anticipated clinical data readouts for the ADC portfolio.