IDEAYA Biosciences, Inc. (IDYA): Business Model Canvas [11-2024 Updated]

In the rapidly evolving landscape of biotechnology, IDEAYA Biosciences, Inc. (IDYA) stands out with its innovative approach to precision medicine aimed at treating cancer. This blog post delves into the Business Model Canvas of IDEAYA, highlighting key partnerships, activities, and resources that drive its mission to develop targeted therapies for patients with specific genetic mutations. Discover how IDEAYA's strategic collaborations and cutting-edge technology position it as a leader in oncology research and drug development.

IDEAYA Biosciences, Inc. (IDYA) - Business Model: Key Partnerships

Collaborations with GSK for WRN Program

IDEAYA Biosciences has a significant collaboration with GSK, focusing on the Werner Helicase Inhibitor program (WRN). Under this collaboration, GSK is responsible for all research and development costs associated with the program. IDEAYA has the potential to earn up to $475 million in commercial milestones and an additional $10 million milestone payment upon the initiation of Phase 1 clinical dose expansion. In August 2023, IDEAYA received a $7 million milestone payment related to the acceptance of the IND by the FDA.

Agreements with Gilead and MSD for Clinical Trials

IDEAYA has established collaboration agreements with Gilead and Merck Sharp & Dohme (MSD) for conducting clinical trials involving their respective drugs. Gilead will supply Trodelvy for a combination study, while IDEAYA will bear all internal and external costs for conducting the study. MSD will provide KEYTRUDA at no cost to IDEAYA for a study, with IDEAYA responsible for all related expenses.

License Agreements with Novartis for IDE196

IDEAYA has entered into a license agreement with Novartis for IDE196, a promising therapeutic candidate. This agreement includes potential milestone payments and royalties based on future sales of IDE196. The specific financial terms have not been publicly disclosed, but the collaboration enhances IDEAYA's portfolio in precision medicine.

Partnerships with Biocytogen for New Drug Candidates

IDEAYA collaborates with Biocytogen to discover and develop new drug candidates. This partnership leverages Biocytogen's unique capabilities in drug discovery and IDEAYA's expertise in precision medicine. The financial implications of this partnership are still being evaluated, as it is an ongoing effort to bring new therapies to market.

Collaborations with Academic Institutions for Research

IDEAYA is actively engaged in partnerships with various academic institutions to advance its research initiatives. These collaborations facilitate access to cutting-edge research, expertise, and resources that are essential for the development of IDEAYA's drug candidates. The financial impact of these collaborations is often seen in the form of grants and shared funding for specific research projects, although specific figures are not disclosed.

Partnership	Focus Area	Potential Financial Benefits	Current Status
GSK	WRN Program	Up to $475 million in commercial milestones; $10 million upon Phase 1 initiation	Ongoing
Gilead	Clinical Trials	Shared costs for Trodelvy study	Ongoing
MSD	Clinical Trials	No cost for KEYTRUDA; IDEAYA bears study costs	Ongoing
Novartis	IDE196	Milestone payments and royalties	Established
Biocytogen	New Drug Candidates	Ongoing evaluation of financial terms	Ongoing
Academic Institutions	Research Initiatives	Grants and shared funding	Ongoing

IDEAYA Biosciences, Inc. (IDYA) - Business Model: Key Activities

Conducting preclinical and clinical trials

As of September 30, 2024, IDEAYA Biosciences has incurred total research and development expenses of $154.5 million for the nine months ended September 30, 2024, compared to $90.7 million for the same period in 2023. A significant portion of these expenses is allocated to external clinical development, which includes costs for various product candidates. The breakdown for the three months ended September 30, 2024, is as follows:

Product Candidate	External Clinical Development Expenses (Q3 2024)
Darovasertib	$13.2 million
IDE397	$5.1 million
IDE161	$2.4 million
Other Research and Development Expenses	$22.1 million
Total R&D Expenses	$57.2 million

Research and development of precision medicine products

IDEAYA's focus on precision medicine is evident in its collaborations with GSK, particularly in the development of its product candidates. The company has completed all performance obligations under the GSK Collaboration Agreement as of December 31, 2023, with total collaboration revenue recognized of $19.5 million for the nine months ended September 30, 2023. This revenue was derived from various programs, including:

Program	Revenue (Nine Months Ended September 30, 2023)
WRN	$14.5 million
Pol Theta	$2.2 million
MAT2A	$2.8 million

Managing collaborations and partnerships

IDEAYA is actively managing collaborations, particularly with GSK, which covers significant aspects of their research and development costs. GSK is responsible for 80% of the global research and development costs associated with the Werner Helicase program. IDEAYA earned a milestone payment of $7 million upon IND acceptance for IDE275 (GSK959) in October 2024. The potential for additional milestone payments includes:

• $10 million upon initiation of Phase 1 clinical dose expansion for IDE275.
• Up to $465 million in late-stage development and regulatory milestones.
• Up to $475 million in commercial milestones.

Regulatory compliance and filing for product approvals

As of September 30, 2024, IDEAYA has not yet generated any product revenue. The company is focused on obtaining regulatory approvals for its product candidates. They expect to incur significant costs associated with the regulatory approval process, which is a critical activity in their business model. The company has an accumulated deficit of $492.5 million as of September 30, 2024, indicating ongoing investments in regulatory compliance and clinical trials.

Continuous monitoring of market trends and competitor activities

IDEAYA's strategy includes continuous monitoring of market trends and competitor activities, which is essential for making informed decisions regarding its pipeline and potential collaborations. As of September 30, 2024, the company reported cash, cash equivalents, and marketable securities totaling $1.2 billion, which provides a robust financial foundation to support ongoing and future activities in response to market dynamics.

IDEAYA Biosciences, Inc. (IDYA) - Business Model: Key Resources

Strong financial position with $1.2 billion in cash and securities

As of September 30, 2024, IDEAYA Biosciences reported cash, cash equivalents, and marketable securities totaling $1.2 billion. This significant financial resource is primarily composed of money market funds, U.S. government securities, commercial paper, and corporate bonds.

Proprietary technology platform for drug development

IDEAYA utilizes a proprietary technology platform that integrates small molecule drug discovery with capabilities in identifying and validating translational biomarkers. This platform is pivotal in developing targeted therapies for specific patient populations, enhancing the company's potential to innovate in precision medicine oncology.

Experienced team in oncology and clinical research

The company boasts a highly skilled team with extensive experience in oncology and clinical research. This includes specialists in drug development and clinical trial management, which are crucial for advancing product candidates through various stages of development.

Intellectual property portfolio related to drug candidates

IDEAYA maintains a robust intellectual property portfolio that encompasses numerous patents associated with its drug candidates. This portfolio not only protects its innovations but also enhances its competitive advantage in the biotechnology sector.

Laboratory and office facilities in South San Francisco and San Diego

IDEAYA operates laboratory and office facilities located at:

• 5000 Shoreline Court, South San Francisco, California: Approximately 44,000 square feet, with an additional expansion of 11,321 rentable square feet scheduled.
• 11710 El Camino Real, San Diego, California: Approximately 5,700 square feet for corporate office space.

These facilities are essential for supporting the company's research and development activities, housing advanced laboratory equipment and office spaces for administrative functions.

Key Resource	Details
Financial Position	$1.2 billion in cash, cash equivalents, and marketable securities
Technology Platform	Proprietary technology for drug discovery and biomarker validation
Experienced Team	Specialists in oncology and clinical research
Intellectual Property	Extensive portfolio of patents related to drug candidates
Facilities	Laboratory and office space in South San Francisco and San Diego

IDEAYA Biosciences, Inc. (IDYA) - Business Model: Value Propositions

Focus on precision medicine targeting specific genetic mutations

IDEAYA Biosciences is dedicated to precision medicine, specifically focusing on targeting genetic mutations that drive cancer. The company employs molecular diagnostics to identify patient populations likely to benefit from its targeted therapies. As of September 30, 2024, IDEAYA had an accumulated deficit of $492.5 million, which highlights its ongoing investment in research and development aimed at these specific mutations.

Innovative therapies aimed at solid tumors with unmet needs

IDEAYA's pipeline includes innovative therapies targeting solid tumors that have significant unmet medical needs. The company has several drug candidates in development, including IDE275 (GSK959), a potential first-in-class WRN inhibitor, which received IND clearance in October 2024 for tumors with high microsatellite instability (MSI). This drug exemplifies IDEAYA's commitment to addressing gaps in cancer therapy.

Collaboration with leading pharmaceutical companies

Collaboration is a cornerstone of IDEAYA's business model. The company has partnered with GlaxoSmithKline (GSK) for the development of its WRN inhibitor, among other projects. Under the collaboration agreement, IDEAYA is eligible to receive up to $475 million in development and commercial milestones, as well as tiered royalties on global net sales. As of September 30, 2024, IDEAYA has recognized no collaboration revenue due to the completion of performance obligations related to the agreement.

Potential first-in-class drug candidates with unique mechanisms

IDEAYA is developing potential first-in-class drug candidates, such as IDE275, which targets the WRN helicase involved in genome maintenance. This drug has shown promise in preclinical studies, demonstrating in vivo efficacy and selectivity against tumors with high MSI. The potential to offer therapies with unique mechanisms of action distinguishes IDEAYA in the competitive oncology landscape.

Commitment to advancing cancer treatment through research

IDEAYA's commitment to advancing cancer treatment is reflected in its substantial investment in research and development. For the nine months ended September 30, 2024, the company incurred research and development expenses of $154.5 million, a 70% increase compared to $90.7 million during the same period in 2023. This investment underscores IDEAYA's focus on innovation and the development of therapies that can significantly impact patient outcomes.

As of September 30, 2024	As of September 30, 2023	Change (%)
Accumulated Deficit	$492.5 million	$348.4 million	41.3%
Research and Development Expenses	$154.5 million	$90.7 million	70%
Collaboration Revenue	$0	$19.5 million	-100%

IDEAYA Biosciences, Inc. (IDYA) - Business Model: Customer Relationships

Engaging with research institutions and healthcare providers

IDEAYA Biosciences actively collaborates with leading research institutions and healthcare providers. The company focuses on advancing its product candidates through rigorous clinical trials and research initiatives. As of September 30, 2024, IDEAYA had cash, cash equivalents, and marketable securities totaling $1.2 billion, which supports these engagements.

Building long-term partnerships with pharmaceutical companies

IDEAYA has established strategic partnerships with major pharmaceutical companies. The collaboration with GSK includes milestone payments, with the company having recognized a $7 million milestone payment in October 2024 following IND clearance for IDE275 (GSK959). Such partnerships are critical for sharing the financial burden and enhancing the development pipeline.

Regular updates to stakeholders on clinical progress

IDEAYA maintains transparency with its stakeholders by providing regular updates on clinical progress. For instance, the company reported no collaboration revenue for the three months ended September 30, 2024, compared to $8 million for the same period in 2023, highlighting a shift in focus towards future milestone payments. This approach helps to keep investors and partners informed and engaged.

Providing educational resources on precision medicine

IDEAYA is committed to educating healthcare professionals and stakeholders about precision medicine. The company's focus on targeted therapeutics aligns with its mission to develop therapies based on molecular diagnostics. This educational outreach is crucial for fostering understanding and support within the oncology community.

Developing a strong reputation in the oncology community

IDEAYA has positioned itself as a reputable player within the oncology community through its innovative research and development efforts. The company has incurred significant research and development expenses, amounting to $154.5 million for the nine months ended September 30, 2024, reflecting its commitment to advancing oncology treatments.

Metric	Value (as of September 30, 2024)
Cash, Cash Equivalents, and Marketable Securities	$1.2 billion
Research and Development Expenses (9 months)	$154.5 million
Collaboration Revenue (9 months)	$0
Milestone Payment from GSK	$7 million
Net Loss (9 months)	$144.2 million
Accumulated Deficit	$492.5 million

IDEAYA Biosciences, Inc. (IDYA) - Business Model: Channels

Direct collaboration with pharmaceutical partners

IDEAYA Biosciences, Inc. engages in direct collaborations with major pharmaceutical companies, notably GSK. Under the GSK Collaboration Agreement, IDEAYA is eligible for up to $475 million in commercial milestones and tiered royalties on global net sales of GSK101, its lead candidate. The collaboration allows IDEAYA to leverage GSK's resources and expertise in clinical development while sharing R&D costs, with GSK responsible for 80% of research and development costs related to the Werner Helicase program.

Regulatory agencies for approvals and compliance

Regulatory approvals are critical for IDEAYA’s business model, as the company has not yet generated revenue from product sales. The company achieved a significant milestone with the FDA's acceptance of the IND for IDE275 (GSK959), resulting in a $7 million milestone payment. IDEAYA relies on regulatory agencies to obtain necessary approvals for clinical trials, which are essential for the progression of their product candidates through the development pipeline.

Scientific publications and conferences for research dissemination

IDEAYA disseminates its research findings through scientific publications and conferences, crucial for establishing credibility and visibility in the biotechnology sector. The company actively participates in industry conferences to share insights on its drug candidates and therapeutic approaches, enhancing its reputation among peers and potential partners.

Digital platforms for investor relations and public communication

IDEAYA uses digital platforms for investor relations, including its corporate website and social media channels. As of September 30, 2024, the company reported cash, cash equivalents, and marketable securities totaling $1.2 billion, which is communicated transparently to stakeholders through earnings calls and investor presentations. This information is crucial for maintaining investor confidence and attracting future investments.

Networking with healthcare professionals and researchers

Networking with healthcare professionals and researchers is another vital channel for IDEAYA. The company collaborates with clinical research organizations (CROs) and contract manufacturing organizations (CMOs) to advance its clinical candidates. For the nine months ended September 30, 2024, IDEAYA reported research and development expenses of $154.5 million, highlighting the scale of its collaborative efforts. Such networking facilitates access to expertise and resources essential for the successful development of its product pipeline.

Channel	Description	Key Metrics
Direct Collaboration	Partnership with GSK for R&D and commercialization	Potential $475 million in commercial milestones
Regulatory Agencies	Engagement for clinical trial approvals	FDA IND acceptance led to $7 million milestone
Scientific Publications	Dissemination of research at conferences	Participation in key industry events
Digital Platforms	Investor relations and public communication	$1.2 billion in cash and equivalents reported
Networking	Connections with healthcare professionals	$154.5 million in R&D expenses for 2024

IDEAYA Biosciences, Inc. (IDYA) - Business Model: Customer Segments

Pharmaceutical companies seeking innovative collaborations

IDEAYA Biosciences engages in collaborations with pharmaceutical companies, particularly focusing on co-development agreements. As of September 2024, IDEAYA has partnered with GSK, which is responsible for 80% of global research and development costs associated with various projects, including the development of IDE275 (GSK959). The GSK collaboration has the potential to generate significant future milestone payments, with IDEAYA eligible for up to $465 million in development milestones and up to $475 million in commercial milestones, including royalties on sales.

Healthcare providers and oncologists for treatment options

IDEAYA's primary focus is on precision medicine in oncology, targeting specific genetic tumor profiles. The company is developing therapies like IDE275, a WRN inhibitor aimed at treating tumors with high microsatellite instability (MSI), which affects approximately 15% of gastrointestinal cancers. This targeted approach allows IDEAYA to provide oncologists with innovative treatment options tailored to specific patient needs, potentially improving patient outcomes significantly.

Patients with specific genetic tumor profiles

Patients are a crucial customer segment for IDEAYA, as their therapies are designed to target specific genetic mutations. The company’s pipeline includes drugs aimed at treating patients with unique tumor profiles, such as those with high MSI. As of September 30, 2024, IDEAYA has not yet generated revenue from product sales, reflecting its focus on research and clinical trials. However, the successful development and commercialization of its therapies could provide significant benefits to these patients.

Investors interested in biotechnology and oncology sectors

IDEAYA has attracted interest from investors due to its innovative approach in the biotechnology sector. As of September 30, 2024, the company reported an accumulated deficit of $492.5 million, indicating substantial investment in research and development. In 2024, IDEAYA raised approximately $283.8 million from a public offering, underscoring investor confidence in its potential for future growth. The company’s substantial cash reserves of $1.2 billion as of the same date provide a solid foundation for ongoing development.

Research institutions focusing on cancer research

IDEAYA collaborates with research institutions to advance its oncology research. The company’s focus on precision medicine and molecular diagnostics aligns with the interests of academic and research institutions dedicated to cancer research. As of September 30, 2024, IDEAYA’s research and development expenses totaled $154.5 million, reflecting its commitment to advancing cancer therapeutics. Collaborations may also facilitate access to additional funding and resources, enhancing IDEAYA's capabilities in drug discovery and development.

Customer Segment	Description	Financial Impact
Pharmaceutical Companies	Collaborations for drug development and sharing R&D costs	Potential milestone payments up to $465 million
Healthcare Providers	Providing innovative treatment options for oncologists	Future revenues dependent on successful drug approvals
Patients	Targeted therapies for specific genetic conditions	Long-term revenue potential from drug sales
Investors	Funding for R&D and operations	Raised approximately $283.8 million in 2024
Research Institutions	Collaboration on cancer research projects	Shared resources and potential funding opportunities

IDEAYA Biosciences, Inc. (IDYA) - Business Model: Cost Structure

Significant research and development expenditures

For the nine months ended September 30, 2024, IDEAYA Biosciences incurred research and development expenses of $154.5 million, a significant increase of 70% compared to $90.7 million for the same period in 2023. This increase was primarily attributed to:

• $46.9 million in fees paid to Contract Research Organizations (CROs), Contract Manufacturing Organizations (CMOs), and consultants.
• $12.4 million in personnel-related expenses, including stock-based compensation and salaries.
• $4.5 million in costs for laboratory supplies, facilities, and software.

Operational costs for clinical trials and studies

Operational costs related to clinical trials are a major component of the research and development budget. As of September 30, 2024, the external clinical development expenses included:

Clinical Program	Expenses (in thousands)
Darovasertib	$28,112
IDE397	$9,126
IDE161	$4,493
Personnel related and stock-based compensation	$41,138
Other research and development expenses	$71,621
Total R&D Expenses	$154,490

Administrative expenses including personnel and facilities

For the same period, general and administrative expenses totaled $28.3 million, reflecting an increase of 33% from $21.2 million in the prior year. The breakdown of these expenses includes:

• $2.7 million for consulting and legal services.
• $4.4 million in personnel-related expenses, including salaries and stock-based compensation.

Costs associated with collaborations and licensing agreements

IDEAYA has not recognized any collaboration revenue for the nine months ended September 30, 2024, compared to $19.5 million for the same period in 2023. The company is engaged in several collaboration agreements, including:

• Collaboration with GSK, which has contributed to R&D expenditures.
• Future milestone payments expected as the company fulfills performance obligations under these agreements.

Marketing and communication expenses for stakeholder engagement

Marketing and communication expenses are essential for stakeholder engagement, particularly as IDEAYA progresses through clinical development. Specific expenses in this area are not detailed in the financial reports, but the company anticipates these costs will rise as it scales its operations and engages with investors and the public.

IDEAYA Biosciences, Inc. (IDYA) - Business Model: Revenue Streams

Collaboration revenues from partnerships (e.g., GSK)

As of September 30, 2024, IDEAYA Biosciences reported no collaboration revenue for the nine months ended September 30, 2024, compared to $19.5 million for the same period in 2023. This revenue was primarily derived from the GSK Collaboration Agreement, where IDEAYA completed all performance obligations related to upfront payments as of December 31, 2023. Future revenues are expected to depend on milestone payments based on drug development progress.

Potential milestone payments from drug development progress

IDEAYA has achieved several milestone payments under the GSK Collaboration Agreement. Notably, in October 2024, the company earned a $7.0 million milestone payment for IND clearance of its Werner Helicase Inhibitor, and an earlier $3.0 million milestone payment was achieved in October 2023 related to IND-enabling studies. The company also has the potential to receive an additional $10.0 million milestone payment upon initiation of Phase 1 clinical dose expansion.

Future royalties from commercialized products

Upon commercialization of products developed in collaboration with GSK, IDEAYA will be eligible to receive up to $475.0 million in commercial milestones, along with tiered royalties on global net sales. These royalties range from high single-digit to sub-teen double-digit percentages, subject to customary reductions.

Research grants and funding from government or private entities

IDEAYA has not disclosed specific amounts regarding research grants and funding from government or private entities in the latest financial reports. However, the company continues to explore avenues for funding to support its research and development efforts.

Possible licensing fees for proprietary technology and drug candidates

IDEAYA's collaboration agreements may include provisions for licensing fees related to its proprietary technologies and drug candidates. However, specific figures regarding these licensing fees have not been disclosed in the current financial documents.

Revenue Stream	2024 Amounts	2023 Amounts	Notes
Collaboration Revenue	$0	$19.5 million	All performance obligations completed as of Dec 31, 2023
Milestone Payments	$10.0 million potential	$10.0 million (previous milestones)	Based on IND clearance and Phase 1 initiation
Future Royalties	Up to $475.0 million	N/A	Tiered on global net sales
Research Grants	N/A	N/A	Still investigating funding sources
Licensing Fees	N/A	N/A	Not disclosed

Updated on 16 Nov 2024

Resources:

1. IDEAYA Biosciences, Inc. (IDYA) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of IDEAYA Biosciences, Inc. (IDYA)' financial performance, including balance sheets, income statements, and cash flow statements.
2. SEC Filings – View IDEAYA Biosciences, Inc. (IDYA)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.