Vir Biotechnology Signs Gilead Deal Worth Up to $135M Near-Term

Vir will receive $90 million upfront—$65 million in cash and $25 million in equity at a 30% premium—and up to $45 million in near-term preclinical milestones. The collaboration covers discovery of three PRO-XTEN dual-masked T-cell engagers; later milestones could reach $1.74 billion, plus tiered royalties.