Vir Biotechnology Enters Multi-Program Collaboration and License Agreement with Gilead Sciences to Discover and Develop Novel PRO-XTEN® Dual-masked T-cell Engagers for Solid Tumors
Vir Biotechnology announced a collaboration and license agreement with Gilead to discover and develop three novel PRO-XTEN dual-masked T-cell engagers for solid tumors, with Gilead taking an exclusive license to develop and commercialize the candidates. Vir receives up to $135 million in upfront and near-term preclinical milestones, comprising $65 million cash, a $25 million equity investment at a 30% premium, and up to $45 million in milestones. Beyond that, Vir is eligible for up to $1.74 billion in development, regulatory and commercial milestones plus tiered high single-digit to low double-digit royalties on net sales.
Key figures
- Deal Value Usd
- $1.74 billion potential milestones
- Royalties
- tiered high single-digit to low double-digit on net sales
- Upfront cash
- $65 million
- Equity investment
- $25 million
- Preclinical milestones
- $45 million
- Equity investment premium
- 30%
- Total potential milestones
- $1.74 billion
- Upfront and near term payments
- $135 million
AI analysis
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