Gilead Sciences Inc. GILD, -1.91% and biotech Goldfinch Bio Inc. are striking a deal to develop and commercialize a pipeline of drugs for kidney diseases, the companies announced Wednesday. Under the terms of the deal, Goldfinch will receive $55 million up front, including a $5 million equity investment, and an additional $54 million to support the development of Goldfinch’s research platform. The platform, called the Kidney Genome Atlas, is a comprehensive registry of patients with kidney diseases that integrates genetic data with the patients’ clinical profiles. Goldfinch will also be eligible to receive up to $1.95 billion in potential payments for certain research, regulatory and commercial milestones, as well as tiered royalties on sales. The company will retain the option to share equally in U.S. profits for certain products, should they make it to market. Shares of Gilead have gained 6.2% in the year to date, while the S&P 500 SPX, -1.65% has gained 15%.
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