Black Diamond Therapeutics (NASDAQ: BDTX) stock rose more than 12% in pre-market trading Thursday after the company inked a significant licensing agreement with Servier for its oncology therapy, BDTX-4933.
The collaboration aims to develop and commercialize BDTX-4933, a therapy designed to target RAS mutations and RAF alterations in solid tumors, including potential applications for non-small cell lung cancer (NSCLC).
“At Servier, we are dedicated to transforming patient care in areas with significant unmet needs. Our partnership to develop BDTX-4933 is an important opportunity in targeted cancer therapies, as we believe we can serve more people by helping the right patients find the right treatment, at the right time,” said Claude Bertrand, Executive Vice-President of R&D at Servier. “We look forward to accelerating the development of this therapy as a potential best-in-class treatment for cancer patients.”
“This agreement supports our mission to advance oral cancer therapies designed to give patients the opportunity for longer, healthier, and more active lives,” said Mark Velleca, M.D., Ph.D., President and Chief Executive Officer of Black Diamond Therapeutics. “Servier’s commitment to innovation and deep expertise in oncology make it an ideal partner for Black Diamond as we work to develop breakthrough cancer treatments.”
Under the terms of the agreement, Servier will oversee the development and global commercialization of BDTX-4933. Black Diamond (NASDAQ: BDTX) will receive an upfront payment of $70 million from Servier, and is eligible for up to $710 million in milestone payments, along with tiered royalties based on global net sales of the therapy.
Meanwhile, BDTX-4933 is being evaluated in an ongoing Phase 1 clinical trial, which is designed to assess the therapy’s safety, tolerability, and antitumor activity in adult patients with advanced or metastatic cancers that harbor specific RAF or RAS mutations. This therapy aims to address significant unmet medical needs for these patient populations.
France-based Servier operates in nearly 140 countries and posted €5.9 billion in sales for 2023/2024. The company continues to invest heavily in oncology research and development, focusing on precision medicine.
