Shots:

• Relay to receive $75M as upfront- $25M in additional near-term payments- and has the right to opt for 50/50 profit/cost-sharing on RLY-1971 in the US. If Relay exercises the option- it will be eligible to receive 50% profits on US sales & ~$410M as commercialization milestones & royalties on ex-US sales
• If Relay elects not to opt-in- then it will receive ~$695M as milestones along with royalties on global sales of RLY-1971
• Genentech will assume the development of RLY-1971 with the potential to expand into multiple combination studies including its GDC-6036 (KRAS G12C inhibitor). The relay will receive additional royalties on the approval of IRLY-1971 + GDC-6036

 ­ Ref: GlobeNewswire | Image: Fierce Biotech