Gilead Sciences (NASDAQ:GILD) announced Monday it has entered into a definitive agreement to acquire Arcellx (NASDAQ:ACLX), moving to take full control of a high-potential cell therapy pipeline for multiple myeloma.
Under the terms of the deal, Gilead will pay $115 per share in cash at closing, plus a contingent value right (CVR) of $5 per share tied to future sales milestones.
The transaction implies an upfront equity value of approximately $7.8 billion and represents a 68% premium to Arcellx’s 30-day volume-weighted average price.
The acquisition centralizes the development of anitocabtagene autoleucel (anito-cel), an investigational BCMA-directed CAR T-cell therapy, the two companies have co-developed through Gilead’s Kite unit since 2022.
By absorbing Arcellx, Gilead eliminates existing profit-sharing and royalty obligations, clearing the path for an unencumbered global commercial launch.
Anito-cel has already demonstrated deep, durable responses in heavily pre-treated multiple myeloma patients, a population that often faces diminishing options due to high toxicity in current treatments.