Arcus gets $35M upfront from Gilead to collaborate on up to 4 inflammatory disease targets

Arcus Biosciences, Inc.

Upfront payment of $35M from Gilead Sciences under Amendment No. 2 to existing collaboration.
Arcus will conduct research on up to 4 jointly selected targets for inflammatory diseases.
If Gilead exercises early option on first 2 programs, Arcus eligible for up to $420M in option/milestone payments plus tiered royalties per program.
For other option exercises, parties co-develop/co-commercialize in US with cost and profit sharing.
Gilead has two prespecified time points to exercise options for each program.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Arcus Biosciences, Inc. amended Option, License and Collaboration Agreement Amendment No. 2 with Gilead Sciences, Inc. valued at Upfront payment of $35 million; potential option and milestone payments up to $420 million per progr (effective 2023-05-15).

Action: amendment
Agreement: collaboration
Counterparty: Gilead Sciences, Inc.
Value: Upfront payment of $35 million; potential option and milestone payments up to $420 million per progr
Effective: 2023-05-15

Exact text from the filing

On May 15, 2023, Arcus Biosciences, Inc. (“Arcus”) entered into an amendment (“Amendment No. 2”) to its Option, License and Collaboration Agreement with Gilead Sciences, Inc. (“Gilead”) dated May 27, 2020.

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Source: SEC EDGAR

accession 0000950170-23-021988

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