Gilead To Collaborate With EVOQ To Expand Autoimmune Pipeline

(RTTNews) - Gilead Sciences, Inc. (GILD) and EVOQ Therapeutics, Inc. (EVOQ) announced a collaboration and licensing agreement to advance EVOQ's technology for the treatment of rheumatoid arthritis and lupus. Gilead and EVOQ will collaborate on preclinical development. Gilead has the option to exclusively license rights to EVOQ's NanoDisc technology to pursue product candidates for rheumatoid arthritis and lupus indications and will be responsible for clinical development and commercialization.

EVOQ could potentially receive up to $658.5 million total in upfront, option exercise and milestone payments.

Gilead said the transaction is expected to have a de minimis financial impact on its GAAP and non-GAAP EPS.

Separately, Gilead Sciences, Inc. announced that the European Medicines Agency has validated a Type II variation Marketing Authorization Application for Trodelvy for the treatment of adult patients with unresectable or metastatic hormone receptor positive, human epidermal growth factor receptor 2-negative breast cancer who have received endocrine-based therapy and at least two additional systemic therapies in the metastatic setting.

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