Latest news with #KumquatBiosciences
Yahoo
a day ago
- Business
- Yahoo
Bayer adds cancer drug candidate to portfolio with $1.3-billion Kumquat deal
BERLIN (Reuters) -German pharmaceutical group Bayer announced on Tuesday a deal worth up to $1.3 billion with Kumquat Biosciences to develop the U.S.-based oncology specialist's potential new cancer drug. Under the agreement, Kumquat will be responsible for initiating and completing a phase-Ia study into the drug, a KRAS G12D inhibitor, while Bayer will complete development and commercial activities. Bayer said the deal complements its precision oncology development portfolio in the areas of pancreatic, colorectal and lung cancer. KRAS mutations occur in nearly 25% of human cancers, with the variant targeted by Kumquat's experimental drug still lacking effective treatment options, according to a company statement. Bayer said it has agreed to pay Kumquat up to $1.3 billion, including upfront, clinical and commercial milestones, and additional tiered royalties on net sales. Kumquat, which since its launch in 2019 has also signed agreements with Eli Lilly and Takeda, retains an exclusive option to negotiate for participating in profit-loss sharing in the United States under the deal with Bayer. "This collaboration provides Kumquat the financial resources to accelerate its broader clinical pipeline for long-term value," Kumquat CEO Yi Liu said in a statement shared by Bayer. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
a day ago
- Business
- Reuters
Bayer adds cancer drug candidate to portfolio with $1.3-billion Kumquat deal
BERLIN, Aug 12 (Reuters) - German pharmaceutical group Bayer ( opens new tab announced on Tuesday a deal worth up to $1.3 billion with Kumquat Biosciences to develop the U.S.-based oncology specialist's potential new cancer drug. Under the agreement, Kumquat will be responsible for initiating and completing a phase-Ia study into the drug, a KRAS G12D inhibitor, while Bayer will complete development and commercial activities. Bayer said the deal complements its precision oncology development portfolio in the areas of pancreatic, colorectal and lung cancer. KRAS mutations occur in nearly 25% of human cancers, with the variant targeted by Kumquat's experimental drug still lacking effective treatment options, according to a company statement. Bayer said it has agreed to pay Kumquat up to $1.3 billion, including upfront, clinical and commercial milestones, and additional tiered royalties on net sales. Kumquat, which since its launch in 2019 has also signed agreements with Eli Lilly (LLY.N), opens new tab and Takeda (4502.T), opens new tab, retains an exclusive option to negotiate for participating in profit-loss sharing in the United States under the deal with Bayer. "This collaboration provides Kumquat the financial resources to accelerate its broader clinical pipeline for long-term value," Kumquat CEO Yi Liu said in a statement shared by Bayer.
Wall Street Journal
a day ago
- Business
- Wall Street Journal
Bayer, Kumquat Biosciences Team Up on New Potential Cancer Drug
Bayer BAYN -0.02%decrease; red down pointing triangle said it would commercialize and complete research into a new potential cancer drug developed by U.S. biotech company Kumquat Biosciences. Under the global exclusive license deal, announced by both companies on Tuesday, Kumquat will be responsible for the Phase 1a study of its KRAS G12D inhibitor, while Bayer will work on taking the drug to market.
Bloomberg
a day ago
- Business
- Bloomberg
Bayer to Pay $1.3 Billion for Kumquat Cancer Drug in Pharma Push
Bayer AG agreed to pay Kumquat Biosciences Inc. as much as $1.3 billion to gain a potential new cancer medicine and boost its struggling pharma division's growth prospects. Bayer will help fund the development of an early stage medicine from closely held Kumquat for several types of cancer in which a gene called KRAS has mutated, the German company said in a statement Tuesday.
