IDEAYA Secures $400M Option Deal with Biocytogen for Bispecific ADC

1. Deal Value: The option deal between IDEAYA Biosciences and Biocytogen is valued at $406.5 million, including upfront payment, option exercise fee, and development, regulatory, and commercial milestones.
2. ADC Technology: The deal grants IDEAYA access to Biocytogen's bispecific ADC (antibody-drug conjugate) technology, marking IDEAYA's first ADC in its portfolio.
3. Cancer Treatment: The bispecific ADC is intended for cancer treatment, building on IDEAYA's recent mid-stage success with its MAT2A inhibitor in solid tumors.
4. Partnership: The partnership allows IDEAYA to expand its oncology pipeline with a new technology, enhancing its capabilities in cancer treatment.