Genesis to get $35M in collaboration with Gilead to develop novel therapies

Gilead Sciences and Genesis Therapeutics announced that the companies have entered into a strategic collaboration to discover and develop novel, small molecule therapies across multiple targets. Genesis is pioneering generative and predictive artificial intelligence AI technologies to help create therapeutics for challenging targets. This collaboration will deploy Genesis’ field-leading AI platform, GEMS or Genesis Exploration of Molecular Space,, to assist in generating and optimizing molecules for targets selected by Gilead. The companies will collaborate closely on preclinical research activities and Gilead will have exclusive rights for potential clinical development and commercialization of collaboration compounds…Under the terms of the agreement, Genesis will receive an upfront cash payment of $35M across three targets and Gilead will have an option to nominate additional targets for a predetermined per-target fee. Across programs, Genesis is eligible to receive additional preclinical, development, regulatory, and commercial milestone payments. Genesis is also eligible to receive tiered royalties on net sales should Gilead successfully commercialize products from the collaboration. Gilead does not exclude acquired IPR&D expenses from its non-GAAP financial measures. This transaction with Genesis is expected to reduce Gilead’s GAAP and non-GAAP 2024 EPS by approximately 2c.