BioPharma Dive March 28, 2024
Xilio will give Gilead an exclusive license to its IL-12 immunotherapy, while deprioritizing other work and laying off some staff.
Dive Brief:
- Gilead Sciences will pay $30 million and invest another $13.5 million in Xilio Therapeutics to access an experimental immunotherapy drug the Massachusetts biotechnology company is developing for cancer.
- The deal will give Gilead an exclusive license to the drug, called XTX301 and currently in a Phase 1 clinical trial of people with solid tumors. Xilio could receive as much as $604 million in additional payments and equity investment if certain milestones are met.
- Alongside the Gilead agreement, Xilio announced a private placement equity financing Thursday that will give it another $11.3 million in funding for its cancer...
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