Latham & Watkins Advises IDEAYA Biosciences on Exclusive Licensing Agreement With Servier

Servier, an independent international pharmaceutical group governed by a foundation, and IDEAYA Biosciences, Inc. (NASDAQ: IDYA), a leading precision medicine oncology company, has announced an exclusive license agreement to bring darovasertib, a promising treatment for a rare eye cancer, to patients worldwide. Under the agreement, Servier obtains the regulatory and commercial rights for darovasertib in all territories outside the United States. IDEAYA retains its rights for darovasertib in the United States. Darovasertib, a potent and selective protein kinase C (PKC) inhibitor, is being developed to broadly address primary and metastatic uveal melanoma (UM). Under the terms of the agreement, IDEAYA will receive an upfront payment of US$210 million, and be eligible for up to US$100 million in regulatory approval-based milestone payments and up to US$220 million in commercial milestone payments, as well as double-digit royalties on net sales in all territories outside of the United States. Servier will be responsible for the regulatory and commercial activities for darovasertib in all territories outside the United States. IDEAYA and Servier will collaborate on the development of darovasertib and share the associated costs.

Latham & Watkins LLP represents IDEAYA Biosciences in the transaction with a Healthcare & Life Sciences team led by San Diego counsel Robert Yeh and Bay Area partners Mark Roeder and John Williams, with associates Kristina Funahashi, Bridget Carmody, and Lexi Zintel. Advice was also provided on data privacy and cybersecurity matters by Bay Area partner Heather Deixler, with associate Oliver Mobasser; on tax matters by associate Jake Meninga; and on antitrust matters by Brussels partner Héctor Armengod.