Erasca (ERAS) announced the exercise of its option to expand the existing license agreement with Joyo Pharmatech to include China, Hong Kong, and Macau, which will provide Erasca with worldwide rights to its potential best-in-class pan-RAS molecular glue ERAS-0015. Under the terms of the ERAS-0015 license agreement, Erasca exercised its option to convert its territory to worldwide and is obligated to make a one-time payment to Joyo based on the stage of Joyo’s development program. Securing rights in China, Hong Kong, and Macau will provide Erasca with exclusive global rights for ERAS-0015, enabling the company to pursue a unified worldwide development and commercialization strategy.
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