Brief: Gilead And Xilio Announce Exclusive License Agreement For Tumor-Activated Il-12 Program

Xilio Therapeutics

28/03/2024 11:12

March 28 (Reuters) - Gilead Sciences Inc  GILD.O :
    * GILEAD AND XILIO ANNOUNCE EXCLUSIVE LICENSE AGREEMENT FOR
TUMOR-ACTIVATED IL-12 PROGRAM
    * GILEAD AND XILIO ANNOUNCE EXCLUSIVE LICENSE AGREEMENT FOR
TUMOR-ACTIVATED IL-12 PROGRAM
    * XILIO WILL RECEIVE $43.5 MILLION IN UPFRONT PAYMENTS
    * XTX301 IS CURRENTLY BEING EVALUATED IN A PHASE 1 DOSE
ESCALATION
TRIAL IN PATIENTS WITH ADVANCED SOLID TUMORS.
    * WILL BE ELIGIBLE TO RECEIVE UP TO $604 MILLION IN
ADDITIONAL
CONTINGENT PAYMENTS
    * XILIO GRANTED GILEAD AN EXCLUSIVE GLOBAL LICENSE TO
DEVELOP AND
COMMERCIALIZE XTX301, XILIO'S TUMOR-ACTIVATED IL-12
    * TRANSACTION IS EXPECTED TO REDUCE GILEAD'S GAAP AND
NON-GAAP
2024 EPS BY APPROXIMATELY $0.03 - $0.04
    * XILIO WILL BE RESPONSIBLE FOR CONDUCTING CLINICAL
DEVELOPMENT OF
XTX301 IN ONGOING PHASE 1 CLINICAL TRIAL THROUGH DOSE EXPANSION.
    * GILEAD CAN TRANSITION DEVELOPMENT RESPONSIBILITIES FOR
XTX301 TO
GILEAD, SUBJECT TO DEAL TERMS AND PAYMENT OF $75 MILLION
TRANSITION FEE

Source text for Eikon:  ID:nBwcfxJrsa 
Further company coverage:  GILD.O 

 ((Reuters.Briefs@thomsonreuters.com;))