Gilead and Genesis Therapeutics Announce Strategic Collaboration to Discover and Develop Novel Therapies
-- Gilead and Genesis Will Leverage the GEMS AI Platform to Generate and Jointly Optimize Molecules Against Selected Targets --
-- Gilead Receives Exclusive Rights to Develop and Commercialize Products from the Collaboration --
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Genesis is pioneering generative and predictive artificial intelligence (AI) technologies to help create therapeutics for challenging targets. This collaboration will deploy Genesis’ field-leading AI platform, GEMS (Genesis Exploration of Molecular Space), to assist in generating and optimizing molecules for targets selected by Gilead. The companies will collaborate closely on preclinical research activities and Gilead will have exclusive rights for potential clinical development and commercialization of collaboration compounds.
“The use of generative AI in drug development, enabled by people, science and other new technology, has shown potential to accelerate the discovery of molecules for challenging targets,” said
“Many promising protein targets have a paucity of relevant training data, which makes it difficult to apply off-the-shelf machine learning methods,” said
Terms of the Agreement
Under the terms of the agreement, Genesis will receive an upfront cash payment of
Gilead does not exclude acquired IPR&D expenses from its non-GAAP financial measures. This transaction with Genesis is expected to reduce Gilead’s GAAP and non-GAAP 2024 EPS by approximately
About Genesis Therapeutics
About
Gilead Forward-Looking Statement
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 Gilead’s ability to realize the anticipated benefits from the collaboration; difficulties or unanticipated expenses in connection with the collaboration and the potential effects on Gilead’s earnings; the ability of the parties to initiate, progress or complete clinical trials within currently anticipated timelines or at all, and the possibility of unfavorable results from ongoing or additional trials, including those involving programs developed pursuant to the collaborations; the ability of the parties to file applications for regulatory approval or receive regulatory approvals in a timely manner or at all for the investigational programs developed pursuant to the collaborations, and the risk that any such approvals may be subject to significant limitations on use; the possibility that the parties may make a strategic decision to discontinue development of any of the investigational programs developed pursuant to the collaborations, and therefore these programs may never be successfully commercialized; and any assumptions underlying any of the foregoing. These and other risks, uncertainties and other factors are described in detail in Gilead’s Quarterly Report on Form 10-Q for the quarter ended
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Genesis Info
Azeem Zeekrya, Media
genesis.pr@hdmz.com
will@genesistherapeutics.ai
Gilead Info
public_affairs@gilead.com
investor_relations@gilead.com
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