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NEW YORK – Oric Pharmaceuticals said on Monday that it has paid $13 million upfront to Korean drug discovery firm Voronoi for exclusive rights to ORIC-114, a brain penetrant EGFR and HER2 exon 20 inhibitor.

California-based Oric paid Voronoi $5 million in cash and $8 million in stock to secure the license. If the drug meets development, regulatory, and sales milestones, Oric will pay Voronoi up to a further $336 million. Under the terms of the deal, Oric has exclusive rights to develop and commercialize ORIC-114 worldwide, excluding China, Hong Kong, Macau, and Taiwan.

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Dec
02
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