German pharmaceutical group Bayer announced on Tuesday a deal worth up to $1.3 billion with Kumquat Biosciences to develop the U.S.-based oncology specialist's potential new cancer drug.

Bayer has tapped Kumquat for a juicy opportunity, committing up to $1.3 billion to bag a KRAS G12D inhibitor that is on the cusp of the clinic.

Bayer (OTCPK:BAYZF) on Tuesday unveiled a partnership deal worth up to $1.3 billion with Kumquat Biosciences to develop the U.S.-based oncology specialist's potential new cancer drug. Under the ...