Kronos Bio Ends Collaboration with Genentech and Roche

Tip Ranks
2024.12.27 11:29
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Kronos Bio, Inc. has ended its collaboration with Genentech and Roche by entering a Transition Agreement. This agreement allows Kronos Bio to transfer all small molecule compounds, materials, data, and intellectual property from their joint research programs to Genentech while retaining its proprietary drug discovery platform. The deal includes a perpetual license for Genentech, cancels downstream payment obligations, and involves a one-time payment from Kronos Bio to facilitate the transition. Kronos Bio focuses on developing novel cancer therapies and currently has a market cap of $55.51M.

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Kronos Bio ( (KRON) ) has shared an update.

Kronos Bio, Inc. has entered into a Transition Agreement with Genentech, Inc. and F. Hoffmann-La Roche Ltd to terminate their previous Collaboration and License Agreement. As part of the agreement, Kronos Bio will transfer all small molecule compounds, materials, data, and intellectual property from their joint research programs to Genentech, while retaining its proprietary drug discovery platform. This transition includes a perpetual license for Genentech and cancels any downstream payment obligations between the parties, alongside a one-time payment from Kronos Bio to support the transition.

More about Kronos Bio

Kronos Bio, Inc. is a biotechnology company that focuses on the discovery and development of novel cancer therapies using its proprietary drug discovery platform.

YTD Price Performance: -26.40%

Average Trading Volume: 225,041

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $55.51M

For an in-depth examination of KRON stock, go to TipRanks’ Stock Analysis page.

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