Gilead Sciences and California-based Arcus Biosciences have signed a 10-year agreement to co-develop and co-commercialize the next-generation cancer therapeutics in Arcus' pipeline.
Per the terms of the agreement, Gilead will make a $175 million upfront payment and take a $200 million equity stake, and an additional $1.6 billion will be available for milestone payments and R&D funding. This includes immediate rights to zimberelimab, as well as the right to opt-in to Arcus clinical candidates, upon payment of an opt-in fee ranging from $150M to $275M.
“By gaining access to its broad, diverse pipeline and Arcus’s clear strengths in discovery and development, we believe that our partnership with Arcus will significantly accelerate our progress in developing transformative new therapies for cancer,” said Daniel O’Day, Gilead CEO.
The deal is part of Gilead's ongoing push into oncology, focused particularly on cancer immunotherapy. In March, the drugmaker bought Forty-Seven for $4.9 billion, largely for the immunotherapy, magrolimab.
Read the recent press release
