On August 12, 2025, Kumquat Biosciences Inc., a clinical-stage biotechnology company dedicated to developing life-saving cancer therapies, announced that it has entered into an exclusive global license and collaboration agreement with Bayer to develop and commercialize Kumquat’s KRAS G12D inhibitor. Under the agreement, Kumquat will initiate and complete a Phase Ia clinical study, while Bayer will lead later-stage development and commercialization activities. Wilson Sonsini Goodrich & Rosati represented Kumquat in the transaction.

The deal is valued at up to $1.3 billion, including upfront, clinical, and commercial milestone payments, as well as additional tiered royalties on net sales. Kumquat also retains an exclusive option to negotiate for U.S. profit-loss sharing.

In July 2025, the U.S. Food and Drug Administration (FDA) cleared Kumquat’s investigational new drug (IND) application for its KRAS G12D inhibitor, a therapy designed to target KRAS mutations—genetic changes that can drive the development and growth of cancer.

The Wilson Sonsini team representing Kumquat in the transaction was led by Ian Edvalson, Norm Hovijitra, Michelle Yost Hale, Kimberley Biagioli, and Adam H. Kaldor.

For more information, please see Kumquat’s news release.