Bayer and Kumquat Biosciences, a San Diego, California-based clinical-stage biotech company, have entered into an exclusive global license and collaboration to develop and commercialize a cancer drug by Kumquat, a KRAS G12D inhibitor, in a deal worth up to $1.3 billion.  

Oncogenic driver mutations, such as KRAS mutations, are changes in the DNA of genes that drive the development and growth of cancer. These mutations are often identified as key targets for cancer treatment, and their identification offers the opportunity to develop target-specific drugs, according to information from Kumquat Biosciences. KRAS G12D mutations are found in 37% of pancreatic ductal adenocarcinoma, 13% of colorectal cancer and 4% of non-small cell lung cancers, according to information from the company.   

Kumquat received US Food and Drug Administration clearance of the investigational new drug in July 2025. Under the deal with Bayer, Kumquat is responsible for the initiation and completion of the Phase Ia study while Bayer will complete development and commercial activities. In addition, Kumquat will receive up to $1.3 billion, including upfront, clinical, and commercial milestones, and additional tiered royalties on net sales. Kumquat retains an exclusive option to negotiate for participating in profit-loss sharing in the US. 

Source: Kumquat Biosciences