Covant to receive $10M up front and will be eligible for ~$471M in additional milestones along with royalties on global sales
The companies collaborated to develop novel small-molecule immunotherapy targeting ADAR1 for cancer patients & can be combined with other immunotherapies to enhance their efficacy
Covant will be responsible for the discovery of ADAR1 small molecule inhibitors & utilizes its industry-leading platform which combines structural proteomics and high-throughput chemo proteomics-based screening in the native setting to advance drug discovery for difficult targets like ADAR1
Ref: GlobeNewswire | Image: Covant
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