October 14, 2021 -- Exelixis and Storm Therapeutics have entered into an exclusive collaboration and license agreement to discover and develop new drug leads to treat cancer.
Under the terms of the agreement, Exelixis will pay Storm an upfront fee of $17 million to license two of Storm's discovery programs targeting RNA-modifying enzymes. Proceeds will also help fund discovery research activities conducted or managed by Storm.
The collaboration will focus initially on a protein called RNA-specific adenosine deaminase 1 (ADAR1) to deliver small-molecule clinical candidate compounds discovered using Storm's proprietary RNA-modifying enzyme drug discovery platform.