Pharma BD Deal Intelligence

Merck & Co. Inc. / SciBrunch Therapeutics Co., Ltd.

2026 · Licensing/Option · $2.1B · Complete

Merck (MSD outside the US and Canada) entered an exclusive global license agreement with Chinese clinical-stage biotech SciBrunch Therapeutics for worldwide development, manufacturing and commercialisation rights to SPR2015, an investigational preclinical oral molecular-glue KRAS G12D (ON) inhibitor. SciBrunch receives a USD 400 million upfront payment and is eligible for development, commercialisation and other milestones bringing total potential value to USD 2.13 billion. SPR2015 has demonstrated nanomolar antiproliferative activity across KRAS G12D-mutant cell lines with selectivity over KRAS wild-type cells. Merck expects a USD 400 million pre-tax charge in the third quarter of 2026, approximately USD 0.13 per share.

This deal is too recent to grade. Critic Score and Outcome Score are assigned after the announcement-week coverage settles and, for Outcome, after the 5-year post-close assessment window opens — expected 2031 at the earliest for this deal, once/if it closes.

Key facts

Related deals

See the full interactive analysis, sources & comparables →

← Browse all deals  ·  How we score deals

More: 2026 deals  ·  Merck & Co. Inc. deals