Assembly Biosciences enters $100M collaboration with Gilead; Gilead gets opt-in rights to pipeline

ASSEMBLY BIOSCIENCES, INC.

Gilead pays $85M upfront cash and $15M equity ($1.16/share, 13.1M shares) for collaboration.
Gilead licenses its helicase primase inhibitor and NNPI programs to Assembly.
Gilead has opt-in rights to Assembly programs; exercise fees range from $45M to $125M per program.
Assembly eligible for up to $330M in milestones per program plus royalties (high single to high teens).
Gilead has option to purchase additional shares to own up to 29.9% of Assembly under certain conditions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

ASSEMBLY BIOSCIENCES, INC. entered into Option, License and Collaboration Agreement with Gilead Sciences, Inc. valued at $85 million upfront cash payment, $15 million equity investment, extension fees of $75 million per p (effective 2023-10-15).

Action: entry
Agreement: collaboration
Counterparty: Gilead Sciences, Inc.
Value: $85 million upfront cash payment, $15 million equity investment, extension fees of $75 million per p
Effective: 2023-10-15

Exact text from the filing

On October 15, 2023, Assembly Biosciences, Inc. (the “Company”) entered into an Option, License and Collaboration Agreement (“Collaboration Agreement”) with Gilead Sciences, Inc. (“Gilead”) pursuant to which Gilead will (1) exclusively license to the Company its helicase primase inhibitor program and non-nucleoside polymerase inhibitor (NNPI) program, while retaining opt-in rights to these programs and (2) have an option to take an exclusive license, on a program-by-program basis, to all of the Company’s other current and future pipeline programs.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

ASSEMBLY BIOSCIENCES, INC. entered into Common Stock Purchase Agreement and Investor Rights Agreement with Gilead Sciences, Inc. valued at $15 million equity investment; 13,073,668 shares of common stock at $1.16 per share; potential addit (effective 2023-10-15).

Action: entry
Agreement: equity purchase
Counterparty: Gilead Sciences, Inc.
Value: $15 million equity investment; 13,073,668 shares of common stock at $1.16 per share; potential addit
Effective: 2023-10-15

Exact text from the filing

In addition to the Collaboration Agreement, the Company and Gilead entered into a Common Stock Purchase Agreement and an Investor Rights Agreement (collectively, the “Equity Agreements”), pursuant to which Gilead made an upfront equity investment of $15 million by purchasing from the Company 13,073,668 shares of the Company’s common stock (“Common Stock”) at a purchase price of $1.16 per share.

View on SEC.gov

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ASSEMBLY BIOSCIENCES, INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-257271

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This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.