FOSTER CITY (dpa-AFX) - Gilead Sciences, Inc. (GILD) and Kymera Therapeutics, Inc. (KYMR) announced Wednesday that they have entered into an exclusive option and license agreement to accelerate the development and commercialization of a novel molecular glue degrader (MGD) program targeting cyclin-dependent kinase 2 (CDK2) with broad oncology treatment potential including in breast cancer and other solid tumors.
CDK2-directed MGDs are a new type of drug designed to remove CDK2 - a key contributor in tumor growth - rather than just inhibiting its function. MGDs have the potential to provide more precise, safe and effective treatments for cancers that rely on CDK2 activity by selectively removing this protein from cells.
Under the terms of the agreement, Kymera is eligible to receive up to $750 million in total payments, including up to $85 million in upfront and potential option exercise payments.
In addition, Kymera may also receive tiered royalties ranging from high single-digit to mid-teens on net product sales under the collaboration.
Kymera will lead all research activities for the CDK2 program. If Gilead exercises its option to exclusively license the program, Gilead will have global rights to develop, manufacture and commercialize all products resulting from the collaboration.
This transaction with Kymera is expected to reduce Gilead's earnings per share and adjusted earnings per share 2025 by approximately $0.02 to $0.03.
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