Gilead, Genesis Therapeutics to Use AI to Discover Novel Therapies
By Colin Kellaher
Gilead Sciences has struck a deal to work with privately held Genesis Therapeutics to use generative artificial intelligence to discover and develop novel, small-molecule therapies across multiple targets.
Gilead on Tuesday said the companies will use Genesis' AI platform to assist in generating and optimizing molecules for targets selected by Gilead.
Foster City, Calif., biopharmaceutical company Gilead said it will have exclusive rights for potential clinical development and commercialization of collaboration compounds.
Gilead said it will make a $35 million upfront payment to Genesis across three targets, adding that it will have an option to nominate additional targets for a predetermined per-target fee.
Genesis is also eligible to receive milestone payments and royalties on sales from any products that emerge from the collaboration.
Gilead said it expects the transaction to reduce its 2024 per-share earnings by about 2 cents.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 10, 2024 08:36 ET (12:36 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Q4 Stock Market Outlook: Where We See Opportunities for Investors
-
Markets Brief: Non-Farm Payrolls in the Spotlight Again
-
6 Top-Performing Large-Growth Funds
-
What’s the Difference Between the CPI and PCE Indexes?
-
10 Top-Performing Dividend Stocks of Q3 2024
-
33 Undervalued Stocks
-
Communication Services: Cable’s Broadband Dominance Isn’t as Strong as It Once Was
-
Technology: Strength Continues, With Software Presenting the Best Buying Opportunities
-
Best- and Worst-Performing Stocks of Q3 2024
-
Top Stocks to Own From the Best Fund Managers
-
2 Cheap Stocks Top Managers Have Been Buying
-
The 10 Best Companies to Invest in Now