Shots:

• Arcellx will receive $225M up front, $100M in equity investment & ~$3.9B in clinical, regulatory & commercial milestones along with royalties for co-promote products outside of the US & for licensed products (non-co-promote products). Both companies will share 50/50 commercialization costs for co-promote products in the US
• Arcellx will be responsible to conduct the iMMagine-1 program, and Kite will conduct all other development of co-promote products for prespecified value where the additional expense will be shared equally in the US & 60 (Kite): 40 (Arcellx) development cost outside of the US. The transaction is expected to close in Q1’23
• Arcellx will get an option to co-develop & co-commercialize next-generation autologous programs. Kite also gets an option for ACLX-001 & ARC-SparX programs in myeloma

Ref: Gilead | Image: Arcellx