Shots:
- Vir has entered into a collaboration & license agreement with Gilead to discover & engineer 3 novel PRO-XTENdual-masked T-cell engager (TCE) development candidates targeting selected solid tumor-associated antigens
- As per the deal, Vir will discover, design, & optimize three PRO-XTEN dual-masked TCE candidates, while Gilead will hold exclusive rights to nominate & advance them, and oversee subsequent development, manufacturing, & commercialization
- Vir will receive $90M upfront ($65M cash & $25M in equity at a 30% premium) & ~$45M in near-term preclinical milestones, plus ~$1.74B in additional milestones & tiered high-single to low-double-digit royalties on net sales
Ref: Businesswire | Image: Vir Biotechnology & Gilead | Press Release
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