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Vir CEO sees ‘opportunity to do more deals’ after striking $1.9B Gilead pact for dual-masked TCEs

Vir Biotechnology and Gilead Sciences entered a multi-program collaboration to develop dual-masked T-cell engagers for solid tumors using Vir's PRO-XTEN masking platform. The deal is worth up to 1.9 billion dollars, including 90 million dollars upfront. Vir will manage discovery, design, and optimization, while Gilead will handle development, manufacturing, and commercialization for three candidates. Vir CEO Marianne De Backer stated the company sees opportunities for additional partnerships involving this technology while continuing to advance its own oncology programs.

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  • ✓ The deal between Vir and Gilead is valued at up to 1.9 billion dollars.
  • ✓ Vir will use its PRO-XTEN masking platform to develop T-cell engagers for three solid-tumor targets.
  • ✓ Vir will receive 90 million dollars upfront, consisting of 65 million dollars in cash and a 25 million dollar equity investment.
  • ✓ Vir may earn up to 45 million dollars in near-term preclinical milestones and up to 1.74 billion dollars in additional milestones.
🛡️ Source Corroboration: 10 independent reporting domains (100% confidence) ⏱ Read time: ~2 min

What changed

Vir and Gilead signed a collaboration and license agreement for three T-cell engager candidates targeting solid tumors.

Live updates

  1. Vir Biotechnology and Gilead Sciences Partner on Solid Tumor Therapies

    Vir Biotechnology and Gilead Sciences entered a multi-program collaboration to develop dual-masked T-cell engagers for solid tumors using Vir's PRO-XTEN masking platform. The deal is worth up to 1.9 billion dollars, including 90 million dollars upfront. Vir will manage discovery, design, and optimization, while Gilead will handle development, manufacturing, and commercialization for three candidates. Vir CEO Marianne De Backer stated the company sees opportunities for additional partnerships involving this technology while continuing to advance its own oncology programs.

    Why it matters

    The agreement validates Vir's PRO-XTEN platform as the company seeks to diversify its pipeline. This comes as investors monitor Vir's valuation following a 75.2 percent drop in share price over the last five years.

    What is confirmed

    • The deal between Vir and Gilead is valued at up to 1.9 billion dollars.
    • Vir will use its PRO-XTEN masking platform to develop T-cell engagers for three solid-tumor targets.
    • Vir will receive 90 million dollars upfront, consisting of 65 million dollars in cash and a 25 million dollar equity investment.
    • Vir may earn up to 45 million dollars in near-term preclinical milestones and up to 1.74 billion dollars in additional milestones.
    • Vir is responsible for discovery, design, and optimization, while Gilead manages development, manufacturing, and commercialization.

    What to watch next

    • Readout of upcoming solid tumor data
    • Announcement of additional partnerships for the PRO-XTEN platform
    Sources used for this update (10)
    1. Fierce Biotech — Vir CEO sees ‘opportunity to do more deals’ after striking $1.9B Gilead pact for dual-masked TCEs
    2. Reuters — Vir, Gilead team up on solid tumor cancer therapies in up to $1.9 billion deal
    3. Business Wire — 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
    4. Endpoints News — Vir makes solid tumor T cell engager deal with Gilead
    5. FirstWord Pharma — Gilead, Vir enter $1.9B pact covering T-cell engagers for solid tumours
    6. finance.yahoo.com — Could Vir Biotechnology (VIR) Be Above Fair Value After Recent Pipeline News?
    7. www.nbcnews.com — How Victoria’s Secret CEO Hillary Super is reconnecting a storied brand with its customers
    8. www.talk.bio — Vir sees more deal potential after Gilead’s nearly $1.9B TCE pact
    9. www.biospace.com — Gilead snags equity stake in Vir with up to $1.87B deal for ...
    10. insights.citeline.com — Gilead Widens Cancer Bets With Vir Deal On Masked T-Cell Engagers
    confidence 100%
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