Gilead and Carna Biosciences Announce Research and Development Collaboration to Develop Novel Immuno-Oncology Therapies
June 24 2019 - 7:00PM
Business Wire
Gilead Sciences, Inc. (NASDAQ: GILD) and Carna Biosciences Inc.
(JASDAQ: 4572) today announced that the companies have entered into
a research and development collaboration to develop and
commercialize small molecule compounds in immuno-oncology and to
access Carna’s proprietary lipid kinase drug discovery
platform.
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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. In connection with
this agreement, Carna will receive an upfront payment of $20
million and is eligible to receive up to an additional $450 million
in potential milestone payments upon achievement of certain
development and commercial milestones. Carna will also receive
royalties on future net sales.
"We are delighted to partner with Gilead on our immuno-oncology
pipeline targeting the lipid signaling pathway, as we believe
modulators of lipid signaling have the potential to become the next
generation of cancer immunotherapies,” said Masaaki Sawa, Ph.D.,
Chief Scientific Officer and Head of Research and Development at
Carna Biosciences.
Under the collaboration, Gilead will also have exclusive access
to Carna’s proprietary lipid kinase drug discovery platform.
“We are excited to work with Gilead, a biopharmaceutical company
known for its science-driven innovation and productivity,” said
Kohichiro Yoshino, Ph.D., President and Chief Executive Officer at
Carna Biosciences. “We are proud that our drug discovery support
team can also help the development of potentially innovative cancer
immunotherapies at Gilead by utilizing Carna’s proprietary kinase
drug discovery technology platform.”
“Gilead is committed to building a pipeline in immuno-oncology
with a focus on opportunities with the potential to be
first-in-class or to be meaningfully differentiated from other
therapeutic options,” said John McHutchison, AO, MD, Chief
Scientific Officer and Head of Research and Development at Gilead
Sciences. “Our Carna collaboration also reflects this strategy and
we look forward to working with the Carna team to advance novel
immunotherapies into clinical testing for the potential benefit of
patients.”
About Carna Biosciences
Carna Biosciences is a biopharmaceutical company focused on the
discovery and development of kinase inhibitor drugs to treat
serious unmet medical needs in oncology, autoimmune and
neurological diseases by inhibiting kinases that are important
drivers for those diseases. Carna Biosciences was founded in Kobe,
Japan, in 2003 as a spinoff of Japan Organon (Nippon Organon KK).
Carna’s initial focus was to develop an extensive number of
state-of-the-art, highest quality reagents for kinase drug
discovery, and has since established a leading drug discovery
program with a significant collection of proprietary chemical
libraries. For more information, please visit www.carnabio.com.
About Gilead Sciences
Gilead Sciences, Inc. is a research-based biopharmaceutical
company that discovers, develops and commercializes innovative
medicines in areas of unmet medical need. The company strives to
transform and simplify care for people with life-threatening
illnesses around the world. Gilead has operations in more than 35
countries worldwide, with headquarters in Foster City, California.
For more information on Gilead Sciences, please visit the company’s
website at www.gilead.com.
Gilead Forward-Looking
Statements
This press release includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that are subject to risks, uncertainties and other factors,
including the risk that the parties may not realize the potential
benefits of this collaboration, and Gilead may fail to discover,
develop and commercialize any immuno-oncology drug candidates
through this collaboration. All statements other than statements of
historical fact are statements that could be deemed forward-looking
statements. These risks, uncertainties and other factors could
cause actual results to differ materially from those referred to in
the forward-looking statements. The reader is cautioned not to rely
on these forward-looking statements. These and other risks are
described in detail in Gilead’s Quarterly Report on Form 10-Q for
the quarter ended March 31, 2019, as filed with the U.S. Securities
and Exchange Commission. All forward-looking statements are based
on information currently available to Gilead, and Gilead assumes no
obligation to update any such forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20190624005487/en/
Carna Contacts: Corporate Planning Carna Biosciences,
Inc. TEL: +81-78-302-7075 https://www.carnabio.com/english/
Gilead Contacts: Sung Lee, Investors (650) 524-7792 Nathan
Kaiser, Media (650) 522-1853
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