On April 16, 2024, Kumquat Biosciences, a leader in translating breakthrough science into first-in-class therapeutics, announced a strategic and exclusive collaboration with Takeda to develop and commercialize a novel immuno-oncology small molecule inhibitor as a mono- and/or combination-therapy. Wilson Sonsini Goodrich & Rosati advised Kumquat Biosciences on the transaction.

Under the terms of the agreement, Kumquat granted Takeda an exclusive, global, and royalty bearing license to develop and market a selected small molecule inhibitor, with Takeda covering all subsequent development and commercialization costs beyond the Phase 1 trial. Kumquat will receive up to $130 million in near-term payments and potentially more than $1.2 billion if all future milestones are achieved during the term of the agreement, as well as tiered royalties on potential product sales resulting from this license.

The Wilson Sonsini team that advised Kumquat Biosciences on the transaction included Ian Edvalson, Norm Hovijitra, Karen Wong, and Ingo Hardt.

For more information, please see Kumquat Biosciences' news release. Additional coverage can be found on Fierce Biotech.