Gilead links up with Goldfinch Bio on kidney disease research
Moving further into the hepatology and nephrology sector, US biotech major Gilead Sciences (Nasdaq: GILD) has announced a strategic collaboration with Goldfinch Bio to discover and develop a pipeline of innovative therapeutics for diabetic kidney disease (DKD) and certain rare kidney diseases, which is the first significant deal for US biotech start up and could earn it over $2 billion.
Under the terms of the collaboration:
- Goldfinch will receive $55 million in upfront payments, which includes a $5 million equity investment,
- Goldfinch will receive an additional $54 million in committed payments to support the development of the KGA platform for DKD.
- Goldfinch is also eligible to receive up to $1.95 billion in potential payments for the first five collaboration programs based on the successful achievement of research, development, regulatory and commercial milestones, and tiered royalties on sales of potential products originating from the collaboration.
- Additionally, Goldfinch retains the option to equally share in US profits for certain optioned products in certain pre-defined kidney indications. Development costs for profit share products will be shared among the two parties in a manner commensurate with product rights.
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