Chugai Pharmaceutical has entered into a worldwide licence agreement with InxMed (Hong Kong) for SPYK04, a small-molecule RAF-MEK molecular glue discovered by Chugai for the potential treatment of solid tumours.

Under the agreement, Chugai will grant InxMed an exclusive worldwide licence to develop, manufacture and commercialise SPYK04 across all indications. Chugai will receive an upfront payment and royalties based on product sales following commercialisation. The agreement also provides for Chugai to receive a portion of certain income earned by InxMed from sublicensing activities, excluding royalties.

SPYK04 is designed to act as a molecular glue that brings together RAF and MEK, proteins involved in cancer cell proliferation. By promoting the formation of an inactive RAF-MEK complex, the compound is designed to inhibit proliferative signalling in cancer cells and potentially exert antitumour effects.

Chugai President and CEO Osamu Okuda said the company expects InxMed's oncology expertise to support the further development of SPYK04 and its potential advancement as a cancer treatment.

Zaiqi Wang, Founder, Chairman and CEO of InxMed, said the agreement with Chugai represents a step in the company's efforts to develop precision oncology therapies and advance SPYK04 for cancer patients worldwide.