June 25 (Reuters) - Gilead Sciences ( GILD ) has entered

into an option and license deal with Kymera Therapeutics ( KYMR )

to support the development and sales of a class of

cancer drugs, the companies said on Wednesday.

As part of the deal, Gilead would pay as much as $750

million, including up to $85 million upfront, in exchange for an

option to gain global rights to develop, manufacture and sell

Kymera's drug candidates that belong to a class called molecular

glue degraders.

Kymera is also eligible to receive tiered royalties on net

sales of the drugs under the deal.

Compared to traditional cancer drugs that inhibit the action

of an associated protein, Kymera's drugs are designed to

selectively eliminate proteins called CDK2, or cyclin-dependent

kinase 2.

"This mechanism aligns within our oncology scientific

framework where we evaluate therapeutic agents that selectively

target and kill cancer cells with minimal impact on healthy

tissue," said Flavius Martin, executive vice president of

research at Gilead.

Kymera said it would lead all research activities for the

drugs currently tested in preclinical studies and advance it as

a potential treatment for breast cancer and other solid tumors.

The deal with Kymera is expected to reduce Gilead's 2025

profit per share by about two to three cents, the companies

said.