Gilead Sciences, Inc. (GILD) and Terray Therapeutics, Inc. have announced a strategic alliance aimed at discovering and developing new small molecule therapies targeting multiple areas.
As per the agreement, Terray will leverage its advanced tNova platform to identify and create small molecule compounds specifically targeting areas selected by Gilead. Upon exercising its option to exclusively license these compounds, Gilead will oversee the subsequent phases of development and commercialization derived from this collaboration.
In return, Terray will receive an initial payment and is also positioned to earn additional milestone payments contingent upon achieving specific preclinical, clinical, and sales benchmarks. Moreover, Terray will benefit from tiered royalties based on net sales generated by Gilead from the commercialized products emerging from the collaboration.
Terray's innovative tNova platform integrates high-throughput chemical experimentation with computational analysis, enhanced by a generative AI-driven engine for drug discovery. This method employs AI-driven techniques to analyze a vast library of structured activity data, facilitating the identification of optimal molecules to address complex challenges in drug discovery.
This collaboration is projected to slightly impact Gilead's GAAP and non-GAAP earnings per share in 2024, reducing it by approximately $0.01.
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