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ADragan
SpringWorks Therapeutics (NASDAQ:SWTX) announced on Friday evening that its partner GSK (NYSE:GSK) has notified its decision to terminate a collaboration and license agreement related to its lead candidate nirogacestat,
As part of the collaboration amended in 2022, the companies have jointly run clinical trials to evaluate nirogacestat in combination with GSK’s (GSK) antibody-drug conjugate belantamab mafodotin (belamaf).
Despite the termination, the Stamford, Connecticut-based biotech said in a regulatory filing that GSK (GSK) is expected to complete the jointly conducted clinical trials, including a study targeted at multiple myeloma.
The company added that the decision is scheduled to take effect 180 days after the notice of termination, received on Thursday.
The non-exclusive licenses granted by SpringWorks (SWTX) to GSK (GSK) as part of the agreement will no longer be valid after the termination.