Bayer & Kumquat Biosciences $1.3B Deal to Advance KRAS G12D Cancer Therapy

On August 12, 2025, Bayer and clinical-stage biotechnology company Kumquat Biosciences jointly announced they have reached a significant global exclusive licensing and collaboration agreement. Both parties will co-develop and commercialize Kumquat Biosciences' KRAS G12D inhibitor, aiming to bring new treatment hope to patients with pancreatic cancer, colorectal cancer, and lung cancer.

Kumquat received FDA approval in July 2025 for clinical trial applications of its KRAS G12D inhibitor.

Under the terms of the agreement, Kumquat Biosciences will receive total payments of up to $1.3 billion, including upfront payments, clinical and commercial milestone payments, as well as tiered royalties based on net sales. Kumquat Biosciences also retains an exclusive negotiation option for profit and loss sharing participation in the United States.

This collaboration with Kumquat Biosciences further enriches Bayer's early-stage research pipeline in precision oncology. Yi Liu, CEO of Kumquat Biosciences, stated that the collaboration not only validates the strength of Kumquat Biosciences' platform and the potential of its KRAS G12D candidate drug to address long-standing unmet needs in oncology, but also provides Kumquat Biosciences with financial resources to accelerate the development of its broader clinical pipeline.

Kumquat is dedicated to creating life-changing medicines for cancer patients. Founded in 2019, the company is funded by institutions such as OrbiMed, HSG, EcoR1, Lilly Asia Ventures, Roche Venture Fund, and Boxer Capital, and has previously entered into two major collaborations with Eli Lilly and Takeda.