AbbVie agreed to an exclusive option to acquire Kestrel Therapeutics for up to $1.45 billion, tied to milestones for Kestrel’s oral pan-KRAS inhibitor KST-6051. The deal comes as Kestrel disclosed that dosing has started in a Phase 1 trial for KST-6051 in patients with KRAS-driven solid tumors. AbbVie’s oncology early development team described the partnership as a way to broaden coverage beyond the narrow KRAS mutations that have dominated prior approaches, while funding the KST-6051 program. The companies did not specify the development and regulatory trigger points required to exercise the right to buy. With KRAS remaining one of the most targeted oncology drivers, the structure of AbbVie’s option—rather than a straight acquisition—signals a risk-managed strategy while Kestrel generates early clinical evidence for an orally delivered pan-mutant mechanism.