Targeted cancer therapy developer Loxo Oncology (LOXO) is licensing its two lead drugs to the German pharma giant Bayer, the companies announced Tuesday.

Under the agreement, Loxo will receive $400 million upfront from Bayer in exchange for global development and marketing rights to larotrectinib and LOXO-195. Both drugs target a rare genetic flaw known as TRK gene fusion found across a range of different cancer types.

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