Merck closed a large licensing agreement with China’s Scibrunch Therapeutics for an oncology candidate targeting KRAS G12D, paying $400 million upfront with development and commercialization milestones that could push the deal value above $2 billion. The program covers global rights to a preclinical oral inhibitor built around KRAS G12D mutation biology. The SciBrunch asset joins a growing set of KRAS G12D strategies in development, with Merck now positioned to advance the candidate through IND-enabling work and into clinical-stage testing across multiple tumor indications, subject to future progress-based payments. For investors, the transaction highlights continued appetite among big pharma for late-preclinical KRAS franchise expansion, particularly where companies can secure broad rights early and manage clinical development internally or via future collaborators.