Skyhawk Therapeutics Announces Strategic Collaboration with Merck KGaA, Darmstadt, Germany to Discover Novel RNA-Targeting Small Molecules for Neurological Disorders
- maura169
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Skyhawk Therapeutics enters into an option agreement to grant Merck KGaA, Darmstadt, Germany, exclusive global rights to drug candidates pursued under the collaboration upon option exercise.
Total deal value exceeds $2 billion including upfront and milestone payments, along with the potential for royalties on future sales.
Following option exercise, Merck KGaA, Darmstadt, Germany, will assume responsibility for further development and commercialization.
BOSTON, Aug.18, 2024 /PRNewswire/ -- Skyhawk Therapeutics, Inc., a leader in the discovery and development of small molecules that modulate RNA expression, today announces a strategic research collaboration with Merck KGaA, Darmstadt, Germany, a leading science and technology company. The collaboration will focus on the discovery of novel RNA-targeting small molecules in select neurological indications with high unmet medical need.
Under the terms of the agreement, Skyhawk will use its proprietary SkySTAR® (Skyhawk Small molecule Therapeutics for Alternative splicing of RNA) platform to identify small molecule candidates directed at specific RNA targets designated by Merck KGaA, Darmstadt, Germany. The collaboration aims to expand the potential of RNA modulation in diseases where traditional approaches have proven challenging, leveraging Skyhawk's industry-leading capabilities in RNA splicing modulation and Merck KGaA, Darmstadt, Germany's expertise in drug development and commercialization.
"Our collaboration with Skyhawk aligns with our strategic focus on innovative science and next-generation technologies that have the potential to deliver impactful medicines to patients with neurological conditions," said Amy Kao, Senior Vice President and Global Head of Neuroscience & Immunology Research Unit, Merck KGaA, Darmstadt, Germany. "We believe RNA splicing modulation represents an exciting frontier in drug discovery, and Skyhawk's expertise positions them as an ideal partner in this space. It is also in line with our mission in bringing more medicines to more patients, faster."
"We are proud to partner with Merck KGaA, Darmstadt, Germany a company with a strong heritage of innovation and a commitment to advancing transformative science," said Bill Haney, Chief Executive Officer of Skyhawk Therapeutics. "This collaboration underscores the power of our SkySTAR® platform to address challenging disease biology through precise RNA targeting, and we look forward to working closely with Merck KGaA, Darmstadt, Germany to bring potential first-in-class medicines forward."
Skyhawk will lead discovery and preclinical development efforts, after which Merck KGaA, Darmstadt, Germany will assume responsibility for further development and commercialization upon option exercise. The overall deal is valued at over $2 billion, with Skyhawk being eligible for milestone payments, as well as tiered royalties on commercial sales.
About Skyhawk Therapeutics
Skyhawk Therapeutics is a clinical-stage biotechnology company focused on the discovery and development of novel small molecule therapies designed to modulate critical RNA targets and revolutionize patient treatment for some of the world's most intractable diseases. Skyhawk's discovery expertise is rooted in its proprietary drug discovery platform, which assesses, identifies, and tests RNA splicing targets and small molecules across a broad range of therapeutic areas and disease states. Skyhawk has built collaborations with multiple pharma partners that leverage Skyhawk's novel platform across disease areas including neurodegenerative disease, autoimmune disease, and oncology. For more information visit www.skyhawktx.com.
SKYHAWK COMPANY CONTACT:
Kyle Dow, VP Corporate Development