Brief: Gilead, Merus Announce Collaboration To Discover Novel Antibody-Based Trispecific T-Cell Engagers

Merus NV

06/03/2024 13:15

March 6 (Reuters) - Gilead Sciences and Merus N.V.:
    * GILEAD AND MERUS ANNOUNCE COLLABORATION TO DISCOVER NOVEL
ANTIBODY-BASED TRISPECIFIC T-CELL ENGAGERS
    * MERUS NV - GILEAD RECEIVES EXCLUSIVE OPTION TO LICENSE
NOVEL
TRISPECIFIC THERAPEUTICS RESULTING FROM COLLABORATION
    * MERUS NV - UNDER TERMS OF AGREEMENT, MERUS WILL LEAD
EARLY-STAGE
RESEARCH ACTIVITIES FOR TWO PROGRAMS, WITH AN OPTION TO PURSUE A
THIRD
    * MERUS NV - TO RECEIVE UPFRONT CASH PAYMENT OF $56 MILLION
FOR
INITIAL TARGETS AS WELL AS AN EQUITY INVESTMENT BY GILEAD OF $25
MILLION IN CO'S COMMON SHARES
    * MERUS NV - ELIGIBLE TO RECEIVE UP TO $1.5 BILLION
INCLUDING
ADDITIONAL NEAR TERM AND OPTION PAYMENTS, POTENTIAL
DEVELOPMENT,COMMERCIALIZATION MILESTONES
    * MERUS NV-ELIGIBLE TO GET TIERED ROYALTIES FROM MID-SINGLE
TO
LOW-DOUBLE DIGITS ON PRODUCT SALES SHOULD GILEAD COMMERCIALIZE
THERAPY FROM COLLABORATION
    * MERUS NV -FOR THIRD POTENTIAL PROGRAM, MAY OPT-IN TO SHARE
50/50
SPLIT OF NET PROFITS AND NET LOSSES, IN LIEU OF FUTURE MILESTONE
AND ROYALTY PAYMENTS
    * MERUS NV - TRANSACTION WITH MERUS IS EXPECTED TO REDUCE
GILEAD'S
GAAP AND NON-GAAP 2024 EPS BY ABOUT $0.03 - $0.05

Source text for Eikon:  ID:nBwb3kR7ja 
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