iTeos soars as it inks I-O collaboration with GSK

Further enhancing its immune-oncology presence, UK pharma major GlaxoSmithKline (LSE: GSK) has entered into a collaboration with Belgian biotech iTeos Therapeutics (Nasdaq: ITOS) to co-develop and co-commercialize EOS-448, an anti-TIGIT monoclonal antibody (MAb) currently in Phase I development as a potential treatment for patients with cancer.

TIGIT has demonstrated potential as a promising target for the next generation of immuno-oncology therapies based on compelling pre-clinical data and a Phase II randomized clinical trial. News of the deal pushed iTeos’ shares up 39% to $27.82 by late-morning trading, having surged as much as 60%.

Deal could be worth more than $2 billion