Clinical-stage oncology company Black Diamond Therapeutics Inc (Nasdaq:BDTX) and Servier, an independent global pharmaceutical group governed by a non-profit foundation, on Wednesday announced a global licensing agreement for BDTX-4933, a Phase 1 targeted therapy with potential best-in-class efficacy for RAF/RAS-mutant solid tumours, including non-small cell lung cancer.

Under the agreement, Servier will lead the development and worldwide commercialisation of BDTX-4933 across multiple indications.

Black Diamond Therapeutics will receive an upfront payment of USD70m and may earn up to USD710m in development and commercial milestone payments, along with tiered royalties based on global net sales.

BDTX-4933 is designed to target RAS and RAF alterations in solid tumours. The ongoing Phase 1 dose escalation and expansion study aims to assess safety, tolerability and anti-tumour activity, along with determining the preliminary recommended Phase 2 dose, in patients with recurrent advanced or metastatic cancers harbouring BRAF, CRAF or NRAS mutations.