GILD Gilead Sciences Inc

Gilead Sciences Inc. (GILD) said it will collaborate with the Yale School of Medicine for at least four years to develop new cancer therapies.

The multi-disciplinary research partnership will look for the molecular mechanisms underlying many forms of cancer and seek new therapies that can overcome the drug resistance that develops in some cancer patients. Gilead will have the first option to license Yale inventions produced by the collaboration.

The program will initially span four years with an option to renew for up to 10 years. Gilead will initially provide $40 million over the first four years for research support and basic science infrastructure development and will fund up to $100 million in costs if the program extends to 10 years.

Research projects will be chosen by a joint steering committee chaired by Yale Department of Pharmacology Chairman Joseph Schlessinger.

Gilead shares were up 1.9% to $42.85 in premarket trading Wednesday.

-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com