Merck closed an exclusive global licensing deal with China-based SciBrunch Therapeutics for an early KRAS G12D program, according to multiple reports. The agreement includes $400 million upfront and potential total value of about $2.13 billion tied to development, regulatory and commercialization milestones. The transaction strengthens Merck’s targeted oncology portfolio in a space crowded by KRAS G12D efforts but still lacking universally durable options. It also highlights continued appetite for partnering preclinical assets with defined genetic targets, particularly those that could complement existing KRAS biology strategies.