Vir Biotechnology partners with Gilead to develop PRO-XTEN dual-masked T-cell engagers for solid tumors
VIR•Vir Biotechnology and Gilead agreed to discover three dual-masked T-cell engager candidates for solid tumors. Gilead will pay $90 million upfront, including a $25 million equity investment, and Vir is eligible for up to $1.785 billion in milestones plus tiered royalties.
1. Deal terms
Vir Biotechnology will lead discovery and optimization using its dAIsY platform and PRO-XTEN masking technology, while Gilead receives exclusive rights to nominate, develop, manufacture and commercialize the programs. Gilead will pay $90 million upfront, comprising $65 million in cash and a $25 million equity investment at a 30% premium; Vir is also eligible for up to $45 million in near-term preclinical milestones, up to $1.74 billion in additional milestones and tiered royalties.
