Ideaya Biosciences (IDYA) announced the selection of IDE034, a B7H3/PTK7 topo-I-payload BsADC, as a development candidate and the exercise of its option for an exclusive worldwide license from Biocytogen Pharmaceuticals for potential B7H3/PTK7 BsADC program. Ideaya is targeting an investigational new drug, or IND, submission to the FDA in 2025 for IDE034, subject to satisfactory completion of ongoing preclinical and IND-enabling studies, to enable first-in-human study initiation. The option was exercised for an exclusive worldwide license from Biocytogen pursuant to the option and license agreement between Ideaya and Biocytogen. Ideaya will pay Biocytogen upfront and option exercise fees, along with additional development and regulatory milestone payments, commercial milestone payments, and royalties on net sales, totaling $406.5M, including up to $100M in development and regulatory milestone payments.
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