Gilead invests up to $1.87 B in Vir Biotechnology for three T-cell engagers

Gilead Sciences announced a licensing agreement with Vir Biotechnology that includes an equity investment and potential milestone payments totalling up to $1.87 billion.

The upfront component is $135 million, consisting of $65 million cash, $25 million equity stake, and $45 million tied to near‑term preclinical milestones.

In return, Gilead will obtain rights to three dual‑masked T‑cell engager candidates for solid tumors that use Vir’s PRO‑XTEN masking technology, with Vir handling early discovery before handing development to Gilead.

The deal is seen as a validation of Vir’s platform after its COVID‑19 antibody emergency use authorization was withdrawn, and investors will watch for upcoming readouts in solid‑tumor indications.