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Gilead, Arcus Biosciences Ink 10-year Deal To Co-develop Cancer Immunotherapies

(RTTNews) - Gilead Sciences, Inc. (GILD) and oncology-focused bio-pharmaceutical company Arcus Biosciences, Inc. (RCUS) said Wednesday that they have entered into a 10-year partnership to co-develop and co-commercialize current as well as future therapeutic product candidates in Arcus's pipeline. The agreement will also provide ongoing funding to support Arcus's research and development programs.

Under the terms of the deal, Arcus will receive $375 million upon closing, consisting of a $175 million upfront payment and a $200 million equity investment from Gilead. Arcus is eligible to receive up to $1.225 billion in opt-in and milestone payments with respect to its current clinical product candidates. The transaction is expected to close in the third quarter of 2020.

Gilead will have the right to appoint two individuals to Arcus's board of directors upon closing of the transaction.

Arcus said it currently has a clinical-stage pipeline of four immuno-oncology programs, as well as an active oncology discovery pipeline with six pre-clinical compounds that target critical biological pathways.

Arcus has 10 ongoing clinical studies of molecules in its portfolio. This includes a randomized Phase 2 study in first-line non-small cell lung cancer evaluating combinations of three Arcus product candidates - AB154, an investigational anti-TIGIT monoclonal antibody; AB928, an investigational A2aR/A2bR antagonist; and zimberelimab (AB122), an investigational anti-PD-1 monoclonal antibody.
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