Olema Pharmaceuticals and Aurigene Announced an Exclusive Collaboration and License Agreement to Discover and Develop Novel Cancer Therapies

On June 9, 2022,- An exclusive global license agreement has been announced by Olema Pharmaceuticals, Inc. and Aurigene Discovery Technologies Limited to research, develop as well as commercialize novel small molecule inhibitors of an undisclosed oncology target.

Under the provisions of the agreement, Olemawould makes an upfront licensing payment of $8 million to a pre-existing Aurigene program for rights. Aurigenewould is eligible for up to $60 million in regulatory milestones and potential clinical development and up to $370 million in the potential commercial milestones, along with royalties ranging from the mid-single digits to the low double digits on the basis of annual net sales.

During the term of research, Olema would contribute funding to Aurigene to ease the ongoing discovery efforts. Aurigeneand Olemawouldcooperatively direct supplementary preclinical work and, if fruitful, Olemawould lead the clinical development commercial and regulatory activities. Olemastays is to be well-capitalized with adequate cash to fund its deliberated research and development operations into the second half of 2024.

This collaboration is believed to give Aurigenean the opportunity to expand its focus on new treatments for cancer in women. Moreover, Aurigene has a striking history of positive collaborations and along with Olema’s deep knowledge of cancer biology and wide development expertise, they believe that it would prove to be a robust strategic opportunity to augment their growing discovery portfolio. Furthermore, this agreement with OlemaauthenticatesAurigene’sestablished expertise in discovery besides preclinical development of operative cancer therapeutics.