Werewolf Therapeutics sells preclinical platforms to EMD Serono for $28M upfront

Werewolf Therapeutics, Inc. reported in an 8-K that on August 14, 2026 it closed an asset purchase agreement with EMD Serono Research & Development Institute Inc. Under the deal, Werewolf sold EMD its pre-clinical INDUCER platform, including related patents, know-how, and compounds, along with its INDUKINE platform's certain patents, know-how, and pre-clinical compounds, while excluding the clinical development programs for WTX-124 and WTX-330.¹

Werewolf said it retains all rights necessary to continue developing its WTX-124 and WTX-330 clinical programs.¹

On payment terms, EMD agreed to pay Werewolf $28.0 million upfront and an additional $5.0 million once the transfer of the sold technology is complete.¹

The purchase agreement includes standard representations, warranties, and covenants from both parties, with mutual indemnification for certain losses tied to breaches or allocated liabilities.¹ It also contains a 24-month non-compete clause barring Werewolf from pursuing compounds or programs targeting the same tumor target as any transferred compound, with exceptions for change-of-control situations.¹

Alongside the sale, Werewolf entered a license agreement with EMD on the same day, giving the company an exclusive license to certain patents within the transferred assets so it can continue clinical work on WTX-124 and WTX-330.¹ That license agreement also lets Werewolf pass through certain sublicenses to Harpoon Therapeutics, Inc. under a 2019 assignment and license agreement, and to Jazz Pharmaceuticals Ireland Limited under a license tied to a May 7, 2026 asset purchase agreement between Werewolf and Jazz.¹

Werewolf noted that full copies of both the purchase agreement and the license agreement are expected to be filed in a future SEC report, as the summaries in this filing are not complete descriptions of the terms.