Gilead Sciences said Monday it is acquiring Arcellx in a deal worth $7.8 billion, merging two biotech companies already co-developing a CAR-T therapy for multiple myeloma.
The transaction values Arcellx at $115 per share, or a 79% premium to the stock’s Friday close. Arcellx shareholders will also be eligible for an additional payment equal to $5 per share, based on achieving a future sales target.
The centerpiece of the deal is an experimental CAR-T therapy called anito-cel that was initially developed by Arcellx. Since 2023, the therapy has been co-developed by Kite Pharma, Gilead’s cell therapy division, as part of a collaboration and co-marketing agreement.
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