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Gilead Sciences and Genesis Therapeutics Form Strategic Partnership

12 Sep 2024
Admin
News Article

Gilead Sciences and Genesis Therapeutics Form Strategic Partnership

Overview

Gilead Sciences and Genesis Therapeutics have announced a strategic partnership aimed at discovering and developing innovative small molecule therapies across multiple disease targets.

Gilead Generative AI

Gilead Generative AI, combined with science, people, and other new technologies, offers the potential to accelerate the identification of molecules for challenging disease targets.

Gilead on Partnership

Gilead is excited to partner with Genesis to explore their AI platform and develop new therapies to meet significant unmet medical needs.

Genesis AI Platform

Genesis AI platform is specifically designed to tackle such challenges and make drug discovery for hard-to-reach targets possible.
Genesis is excited to combine our expertise in AI with Gilead's strong research and development capabilities to develop breakthrough treatments for patients.

Post Collaboration

Through this collaboration, Genesis will use its cutting-edge AI platform, GEMS (Genesis Exploration of Molecular Space), to help design and optimise molecules for targets selected by Gilead.
Genesis is at the forefront of using generative and predictive artificial intelligence (AI) technology to tackle difficult-to-treat targets.
The companies will work closely on preclinical research, with Gilead retaining exclusive rights to advance any successful compounds into clinical development and, potentially, to market them.

Terms of Agreement

As part of the agreement, Genesis will receive an initial payment of $35 million for work on three targets.
Gilead also has the option to select more targets, for which it will pay an additional fee per target.
Genesis could receive further payments based on preclinical, development, regulatory, and commercial milestones.

If Gilead successfully markets any products developed through the collaboration, Genesis will be eligible for tiered royalties on net sales.

This deal is expected to reduce Gilead's 2024 earnings per share by approximately $0.02, both under GAAP and non-GAAP accounting measures.