AbCellera, Gilead Ink New Multi-Target Antibody Discovery Collaboration - AbCellera Biologics (NASDAQ:ABC

AbCellera Biologics Inc (NASDAQ: ABCL) has announced agreements to expand its collaboration with Gilead Sciences Inc (NASDAQ: GILD), including a multi-year, multi-target antibody discovery collaboration.
Under the agreements' financial terms, AbCellera will receive an upfront payment and is eligible for milestone payments and royalties.
Under the new agreement, AbCellera will generate panels of antibodies for up to eight new targets selected by Gilead.
The expanded collaboration will leverage AbCellera's fully humanized antibodies using the Trianni Mouse platform and the OrthoMab protein engineering platform.
Price Action: GILD shares increased 1.75% at $65.74, and ABCL shares are up 8.33% at $36.79 on the last check Thursday.

To add Benzinga News as your preferred source on Google, click here.