Gilead Sciences (NASDAQ:GILD) and Carna Biosciences have entered into a R&D collaboration to develop and commercialize small molecule compounds in immuno-oncology.
Under the terms of the license agreement, Gilead will license from Carna worldwide rights to develop and commercialize inhibitors against an undisclosed immuno-oncology target. Carna will receive an upfront payment of $20M and up to an additional $450M milestone payments. Carna will also receive royalties on future net sales.
Under the collaboration, Gilead will also have exclusive access to Carna’s lipid kinase drug discovery platform.
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