STOCKHOLM: Sprint Bioscience AB (publ) today announces the sale of its TREX1 cancer program to Gilead Sciences, Inc. The agreement includes an upfront payment of USD 14 million, as well as potential clinical, regulatory, and commercial milestone payments totaling up to USD 400 million.
“We are pleased to enter into this agreement with Gilead, whom we value highly as a business partner. We appreciate their forward-looking approach and strong commitment to cutting-edge pharmaceutical development.
TREX1 has demonstrated significant potential in the pre-clinical phase, and our decision to sell the program, rather than license it, reflects a strategic shift toward more flexible, value-driven exit opportunities,” said Johan Emilsson, CEO of Sprint Bioscience.
Sprint Bioscience develops small molecule first-in-class drug programs with a focus on oncology. With a fragment-based drug development method, the company develops drug programs in a time- and resource-efficient manner.
The programs enter partnerships through licensing agreements, asset acquisitions, or research collaborations with global pharmaceutical companies during the pre-clinical phase and the company has successfully formed several agreements. The Sprint Bioscience share is listed on the Nasdaq First North Premier Growth Market and trades under the ticker symbol SPRINT.