Gilead (GILD) and Kymera Therapeutics (KYMR) announced that they have entered into an exclusive option and license agreement to accelerate the development and commercialization of a novel molecular glue degrader program targeting cyclin-dependent kinase 2 with broad oncology treatment potential including in breast cancer and other solid tumors. Under the terms of the agreement, Kymera is eligible to receive up to $750M in total payments, including up to $85M 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.
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