The latest event in the nearly four-year collaboration between Gilead Sciences, Inc. and Arcus Biosciences, Inc. saw Gilead increase its equity stake in its partner to approximately 33% in a transaction that Arcus said would give it financial runway into 2027. The two companies also announced that they are ending enrollment in a chemotherapy-free lung cancer trial to focus on other Phase III studies, while Arcus said it will conduct Phase III development of CD73 inhibitor quemliclustat in pancreatic cancer on its own.
Key Takeaways
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Gilead increases its stake in Arcus, by paying $320m at a 37% premium to reach 33% equity in its partner.
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The companies are ending enrollment of a Phase III lung cancer study of their anti-TIGIT and anti-PD-1 regimen, placing increased focus on other Phase III trials
Gilead announced after market close on 29 January that it will make a $320m equity investment in Arcus, increasing its holding in the Hayward, CA-based biotech from 19.8% to 33%, nearing the 35% limit set in the firms’ May 2020 tie-up focused on developing anti-TIGIT and anti-PD-1 candidates for cancer discovered by Arcus. (Also see "Gilead Partnership With Arcus Brings PD-1, TIGIT Assets To Its IO Portfolio" - Scrip, 27 May, 2020
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