Gilead takes option to acquire T cell receptor technology company
Kite, a Gilead Sciences (Nasdaq: GILD) subsidiary, and privately-held Dutch firm Gadeta have entered into a strategic collaboration to develop novel gamma delta T cell receptor (TCR) therapies in various cancers.
Under the financial terms, Kite will provide R&D funding for the collaboration and Gadeta will be eligible to receive future payments on the achievement of certain regulatory milestones.
In addition, Kite will make an upfront purchase of equity in Gadeta from Gadeta's shareholders and may acquire additional equity in Gadeta upon achievement of certain R&D milestones. Kite will have the exclusive option to acquire Gadeta.
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