German pharmaceutical and life sciences company Bayer AG (ETR:BAYN) (OTC:BAYRY) and MOMA Therapeutics Inc, a clinical-stage biopharmaceutical company developing a new generation of precision therapeutics, announced on Tuesday that they have entered into a collaboration and licence agreement to develop a small molecule oncology programme based on MOMA's proprietary KNOMATIC platform.

Under the agreement, Bayer will be responsible for completing further preclinical, development and commercial activities. MOMA will receive an upfront payment as well as milestone payments and tiered royalties on net sales.

The collaboration aims to accelerate the discovery of innovative cancer therapies targeting dynamic proteins, an emerging class of therapeutic targets.