Gilead Sciences and Assembly Biosciences announced a 12-year partnership this week, intended to advance the development of next-generation antiviral therapies.
Under their agreement, Assembly will receive $100 million; $84.8 million upfront and a $15.2 million equity investment from Gilead, giving Gilead a 20% stake in the company. Gilead also has the option to gain exclusive rights to Assembly's programs, potentially paying up to $330 million per program in regulatory and commercial milestones, in addition to royalties.
Assembly will still hold primary responsibility for research and development efforts on collaborative programs, including the two programs contributed by Gilead. If Gilead were to exercise its option for an Assembly Bio program, Assembly would gain the right to opt-in for profit and cost sharing within the United States.
The biotech's portfolio of small molecule antiviral therapeutics is made up of both clinical and preclinical initiatives, including ABI-4334, a next-generation core inhibitor designed to treat hepatitis B, ABI-5366, a long-acting inhibitor targeting herpes simplex virus, ABI-6250, an orally bioavailable treatment for hepatitis D.