IDEAYA Advances IDE161 Into IND-Enabling Studies, Exercises Licensing Option For PARG Inhibitors

IDEAYA Biosciences Inc IDYA has initiated IND-enabling studies for IDE161, a potential first-in-class PARG inhibitor development candidate. 

• IDEAYA is targeting an IND submission for IDE161 in Q4 Of 2022.
• The company plans to evaluate IDE161 in patients having tumors with homologous recombination deficiencies, including BRCA1 and BRCA2, and potentially other genetic alterations identified through IDEAYA's biomarker discovery platform. 
• The company also exercised its option for an exclusive worldwide license from Cancer Research UK and the University of Manchester. 
• IDEAYA holds exclusive worldwide license rights covering a broad class of PARG inhibitors following the option exercise. 
• IDEAYA owns or controls all commercial rights in IDE161, subject to certain economic obligations according to its exclusive, worldwide license with Cancer Research UK and the University of Manchester.
• Price Action: IDYA shares closed 2.17% higher at $15.54 on Friday.