Gilead dives deeper into I-O with another collaboration

21 December 2018

US biotech firm Agenus (Nasdaq: AGEN) leapt as much as 70% Thursday after announcing a deal with a biotech major, worth a potential $1.8 billion, and closed the day still up 23.38% at $2.48.

Gilead Sciences (Nasdaq: GILD) and Agenus have entered into an immuno-oncology (I-O) partnership focused on the development and commercialization of up to five novel immuno-oncology therapies. This adds to Gilead’s $1.7 billion I-O deal with Tango Therapeutics agreed a couple of months ago.

Will earn $150 million on closing the deal

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