Friday, July 30, 2021

San Diego-based Kumquat Biosciences Signs Potential $2 Billion Deal with Lilly

By David Gross

Kumquat Biosciences, a developer of small molecule immuno-oncology drugs, has signed a deal with Eli Lilly worth up to $2 billion to develop therapeutic candidates for tumor specific therapies.  The San Diego-based company is headquartered at BioScience Properties' 10770 Wateridge Circle building in Sorrento Valley, just across I-805 from Lilly's San Diego Biotech Center.   They are also just down the street from Sorrento Therapeutics' Directors Drive facility, where that drug developer just renewed for over $60/square foot, one of the first leases to break that threshold in the San Diego market.  Anaptysbio is currently paying $51.91/square foot in the same building as Kumquat (after escalators) on a lease signed in May 2020.

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