Rami Elghandour, Arcellx CEO

Up­dat­ed: Gilead, Ar­cel­lx team up on an­ti-BC­MA CAR-T as biotech touts a 100% re­sponse rate at #ASH22

Gilead and Kite are plunk­ing down big cash to get in­to the an­ti-BC­MA CAR-T game.

The pair will shell out $225 mil­lion in cash up­front and $100 mil­lion in eq­ui­ty to Ar­cel­lx, Kite an­nounced Fri­day morn­ing, to de­vel­op the biotech’s lead CAR-T pro­gram to­geth­er. Kite will han­dle com­mer­cial­iza­tion and co-de­vel­op­ment with Ar­cel­lx, and prof­its in the US will be split 50-50.

Con­cur­rent with the deal, Ar­cel­lx re­vealed its lat­est cut of da­ta for the pro­gram known as CART-ddBC­MA, ahead of a full pre­sen­ta­tion at this week­end’s ASH con­fer­ence — a 100% re­sponse rate among pa­tients get­ting the ther­a­py. In­vestors jumped at the dual an­nounce­ments, send­ing Ar­cel­lx shares $ACLX up more than 25% in Fri­day’s morn­ing ses­sion.

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