Gilead & Gritstone Partner To Develop HIV-specific Therapeutic Vaccine - Quick Facts

(RTTNews) - Gilead Sciences, Inc. (GILD) and Gritstone Oncology, Inc. (GRTS) have entered into a collaboration, option and license agreement. The companies will develop an HIV-specific therapeutic vaccine using Gritstone's prime-boost vaccine platform, with antigens developed by Gilead.

Gilead will make a $60 million payment at closing, consisting of a $30 million upfront cash payment and a $30 million equity investment. Gilead will be responsible for conducting a phase 1 study for the HIV-specific therapeutic vaccine. Gritstone is also eligible to receive up to an additional $725 million, as well as mid single-digit to low double-digit tiered royalties on net sales.