Merck (NYSE: MRK) has agreed to pay USD 400 million upfront to exclusively license SPR2015, a preclinical oral KRAS G12D-targeted RAS(ON) inhibitor from China-based SciBrunch Therapeutics. The deal could reach USD 2.13 billion including development, commercialization, and other milestone payments across multiple indications.
Why it matters: The USD 400 million upfront payment is unusually large for a preclinical asset and gives Merck an entry into the competitive race to inhibit active KRAS G12D, one of the most common oncogenic RAS mutations. Revolution Medicines has already advanced a competing RAS(ON) KRAS G12D inhibitor into clinical development.
Under the agreement, SciBrunch granted Merck exclusive worldwide rights to develop, manufacture, and commercialize SPR2015. The transaction has closed, and Merck expects to record a USD 400 million pre-tax charge in Q3 2026.
SPR2015 is an oral molecular glue designed to inhibit the active, or ON, state of KRAS G12D by forming a ternary complex with cyclophilin A and the mutant KRAS protein. Preclinical data presented at AACR 2026 showed selective activity in KRAS G12D-mutant cancer models, including pancreatic, lung, and colorectal tumors. The program has not yet entered clinical testing.