Gilead Sciences, Goldfinch To Work on Therapies for Kidney Disease

By Michael Dabaie

Gilead Sciences Inc. (GILD) and Goldfinch Bio Inc. said Wednesday they would develop and commercialize therapeutics for diabetic kidney disease and some orphan kidney diseases.

Under the multi-year collaboration, Gilead has exclusive options to license worldwide rights to certain products directed toward targets emerging from Goldfinch's Kidney Genome Atlas, a registry of patients with kidney diseases.

Goldfinch will receive $55 million in upfront payments, including a $5 million equity investment, and an additional $54 million to support the development of the KGA platform for diabetic kidney disease. Goldfinch also is eligible for up to $1.95 billion in potential payments for the first five collaboration programs based on research, development, regulatory and commercial milestones, and tiered royalties.

Gilead shares were down about 1% premarket.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

May 08, 2019 08:13 ET (12:13 GMT)

Gilead Sciences (NASDAQ:GILD)
Historical Stock Chart
From Mar 2024 to Apr 2024