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)

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