Merck closed an exclusive global license deal with SciBrunch Therapeutics for an undisclosed preclinical oral KRAS G12D inhibitor candidate. The agreement includes $400 million upfront and total potential deal value of $2.13 billion tied to development and commercialization milestones across multiple indications. The transaction adds another line of exposure for Merck in the KRAS G12D landscape, where competitors are racing to convert preclinical differentiation into durable clinical efficacy. The agreement also signals that investors and Big Pharma remain willing to fund early-stage precision oncology even amid trial and regulatory uncertainty. For SciBrunch, Merck’s entry validates the company’s capability to produce assets attractive to global licensing partners and can provide the capital required to run IND-enabling studies. From an industry standpoint, the deal shows how the KRAS G12D field continues to attract “platform-style” investments—pushing for pipeline depth rather than relying on a single clinical program.