On June 6, 2024 SpringWorks Therapeutics, Inc. ("SpringWorks") reported to have received notice of termination of the Amended and Restated Collaboration and License Agreement, dated September 6, 2022, between SpringWorks and GlaxoSmithKline Intellectual Property Development Ltd ("GSK") (the "License Agreement"), effective 180 days following the receipt of notice of termination (Filing, 8-K, SpringWorks Therapeutics, JUN 6, 2024, View Source [SID1234644195]).

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In connection with such termination, SpringWorks expects that GSK will continue the ongoing clinical trials under the License Agreement that include nirogacestat in combination with low-dose belamaf, an antibody-drug conjugate targeting BCMA B-cell maturation antigen in multiple myeloma until completed with respect to the 27 patients currently enrolled in such trials. SpringWorks will continue to support the completion of such trials with drug product supply and future publication efforts with respect to the data developed.

Once the termination becomes effective, the non-exclusive licenses granted by SpringWorks to GSK under the License Agreement will terminate. Termination of the License Agreement does not trigger any payment obligations on the part of SpringWorks or any other material wind-down costs. This termination does not affect SpringWorks’ rights to continue developing or commercializing its products or product candidates.