Gilead Sciences, Terray Therapeutics Set AI-Powered Research Collaboration

Dow Jones12-17

By Colin Kellaher

Gilead Sciences is working with AI-powered biotechnology company Terray Therapeutics to use artificial intelligence to discover and develop small-molecule therapies across multiple targets.

Gilead on Tuesday said Terray will use its tNova platform, which combines high-throughput chemical experimentation and computational analysis with a generative AI-driven drug-discovery engine, to identify small-molecule therapeutics against a set of targets selected by Gilead.

The Foster City, Calif., biopharmaceutical company said it will be responsible for further development and commercialization activities for any compounds it opts to license from the collaboration.

Specific financial terms of the deal weren't disclosed, but Gilead said Terray will receive an upfront payment and is eligible to receive payments related to preclinical, clinical and sales milestones, along with royalties on sales of any products that emerge from the collaboration.

Gilead added that it expects the transaction with Terray to reduce its full-year per-share earnings by about a penny.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

December 17, 2024 07:57 ET (12:57 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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