I-O small molecules could be next big thing, reckons Gilead
Kinase inhibitor specialist Carna Biosciences (TYO: 4572 ) has agreed an R&D deal with California’s Gilead Sciences (Nasdaq: GILD), based around the development of small molecule compounds in immuno-oncology.
Gilead will gain global rights to develop and commercialize inhibitors against an undisclosed immuno-oncology target, for $20 million and up to $450 million in milestones, plus royalties.
The company has been looking to fill the gap left by falling sales in its hepatitis C business, and access to Carna’s proprietary lipid kinase drug discovery platform could help. Carna’s shares rose 16.45% to 1,062 yen following the announcement.
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