By Colin Kellaher

Gilead Sciences Inc. and Arcus Biosciences Inc. on Thursday unveiled an expansion of their partnership, with Gilead exercising options to three programs in Arcus's clinical-stage portfolio and the addition of a research collaboration.

The biopharmaceutical companies said Arcus will receive option payments totaling $725 million for the three programs, which include Arcus's anti-TIGIT program, etrumadenant and quemliclustat, adding that they will co-develop and share the global costs related to the programs.

Gilead, based in Foster City, Calif., and Arcus, based in Hayward, Calif., last year inked a 10-year agreement to co-develop and co-commercialize current and future therapeutic product candidates in Arcus' pipeline. Gilead invested $200 million for a 13% stake in Arcus at the time and earlier this year raised its stake to 19.7%, with an additional $220 million investment.

Gilead and Arcus said they expect to complete the new transaction by the end of the year.

Shares of Arcus, which closed Wednesday at $36.91, were recently up 14% in premarket trading.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

November 18, 2021 08:01 ET (13:01 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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