Gilead Sciences has concluded its merger with Arcellx, a move designed to secure full rights to an investigational cell therapy for multiple myeloma as the company prepares for market entry.
The acquisition involved a cash payment of $115 per share. Shareholders are also entitled to a supplemental $5 per share through a contingent value right linked to future commercial milestones. The total valuation of the transaction stands at approximately $7.8 billion.
The primary asset in this deal is anito-cel, a BCMA-directed CAR-T treatment currently undergoing regulatory evaluation. The additional payment to former Arcellx investors is contingent upon the therapy achieving at least $6 billion in total worldwide sales by the end of 2029.
As a result of the closing, Arcellx has transitioned into a subsidiary of Gilead, and its stock has been withdrawn from the Nasdaq exchange. Gilead anticipates that while the merger may slightly impact immediate earnings per share, it is projected to contribute positively to the company’s financial performance starting in 2028, contingent upon regulatory clearance of the therapy.
Source: https://www.contractpharma.com/breaking-news/gilead-completes-7-8-billion-acquisition-of-arcellx/