On September 12, 2023, Exelixis, Inc. and Insilico Medicine announced that the companies have entered into an exclusive license agreement granting Exelixis global rights to develop and commercialize ISM3091, a potentially best-in-class small molecule inhibitor of USP1, which has emerged as a synthetic lethal target in the context of BRCA-mutated tumors. Under the terms of the agreement, Insilico granted Exelixis an exclusive, worldwide license to develop and commercialize ISM3091, and other USP1-targeting compounds, in exchange for an upfront payment to Insilico of $80 million anticipated in the third quarter 2023. Insilico is also eligible to receive future development, commercial, and sales-based milestone payments, as well as tiered royalties on net sales.

Wilson Sonsini Goodrich & Rosati advised Insilico Medicine on the transaction. The Wilson Sonsini team includes:

Technology Transactions
Alex Key
Kexi Wang
Kimberly Parry

Patents and Innovations
Mike Hostetler
Karen Wong
Richard Wang
Ying Chen
Rida Atif
Weigang Lu

Regulatory
Jamie Ravitz
Marissa Hill Daley

Antitrust
Todd Hahn

For more information, please see the press release.