Merck and Bayer spend over $3 billion on pre‑clinical KRAS G12D inhibitor deals
Merck in‑licensed a KRAS G12D inhibitor from Cybreon for $2.13 billion, paying $400 million up front. Bayer earlier in‑licensed a similar candidate from Kumquat for up to $1.3 billion. Both agreements were signed while the drugs were still in pre‑clinical development. Other big pharma firms, including Johnson & Johnson and Eli Lilly, are also pursuing KRAS G12D therapies.
Why it matters
The large upfront and total payments signal strong market expectations for a first‑in‑class treatment of pancreatic cancer, where no KRAS G12D drug is yet approved. Investors in the companies involved may see future revenue upside if any of the programs reach approval, as noted by the analysts in the second material.
Key facts
- 1Merck paid $400 million upfront as part of a $2.13 billion deal for a KRAS G12D inhibitor from Cybreon. biz.chosun.com
- 2Bayer's agreement with Kumquat can be worth up to $1.3 billion for a KRAS G12D inhibitor. biz.chosun.com
- 3Both deals were signed at the pre‑clinical stage before any human efficacy data were available. biz.chosun.com
- 4Johnson & Johnson invested in PAQ Therapeutics and bought Firefly Bio for $1 billion to develop KRAS‑targeting degraders. finance.biggo.com
- 5Eli Lilly is running KRAS G12D and pan‑KRAS programs in Phase 1a/1b trials. finance.biggo.com
Summary written by AlphAI from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.