Gilead again backs AlloVir's T cell ther­a­py in $127M di­rect of­fer­ing

Gilead and a host of oth­er com­pa­nies are once again back­ing T cell im­munother­a­py biotech AlloVir in a di­rect of­fer­ing that will pro­vide the drug­mak­er with near­ly $127 mil­lion in pro­ceeds to get its lead ther­a­py to mar­ket.

Al­ready stocked with $172 mil­lion at the end of June, the Mass­a­chu­setts biotech wants the ad­di­tion­al mon­ey to bankroll its three on­go­ing Phase III tri­als of its al­lo­gene­ic T cell ther­a­py posoleu­cel. The new funds will al­so sup­port glob­al reg­u­la­to­ry fil­ings for the ther­a­py, the com­pa­ny said Wednes­day.

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