Gilead Sciences (GILD) and Genesis Therapeutics have entered into a strategic collaboration to discover and develop small molecule therapies across multiple targets. The collaboration will deploy Genesis' AI platform, GEMS, to assist in generating and optimizing molecules for targets selected by Gilead.
Genesis will receive an upfront cash payment of $35 million across three targets and Gilead will have an option to nominate additional targets for a predetermined per-target fee. Genesis is eligible to receive additional preclinical, development, regulatory, and commercial milestone payments. Genesis is eligible to receive tiered royalties on net sales should Gilead successfully commercialize products from the collaboration.
The transaction with Genesis is expected to reduce Gilead's GAAP and non-GAAP 2024 EPS by approximately $0.02.
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