Wednesday, January 04, 2023
Gilead Sciences, Inc., and EVOQ Therapeutics, Inc. (EVOQ) today announced a collaboration and licensing agreement to advance EVOQ’s proprietary technology for the treatment of rheumatoid arthritis (RA) and lupus. EVOQ’s NanoDisc technology is designed to enable lymph-targeted delivery of disease-specific antigens and has the potential to change the paradigm for the treatment of autoimmune diseases. Under the agreement, Gilead and EVOQ will collaborate on preclinical development. Gilead has the option to exclusively license rights to EVOQ’s NanoDisc technology to pursue product candidates for RA and lupus indications and will be responsible for clinical development and commercialization.
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“Despite key advances over the past two decades, there remains significant unmet need for people living with inflammatory and autoimmune diseases,” said Flavius Martin, MD, Executive Vice President, Research at Gilead. “We are excited to collaborate with EVOQ to further expand our autoimmune pipeline with the goal of addressing the needs of people living with these conditions.”
“Gilead has an incredible track record in therapeutic development and of delivering innovative medicines to people around the world. We look forward to working with the Gilead team to advance new treatment options for RA and lupus patients,” said William Brinkerhoff, CEO at EVOQ.
Beginning in the first quarter of 2022, consistent with recent industry communications from the U.S. Securities and Exchange Commission (SEC), Gilead no longer excludes acquired IPR&D expenses from its non-GAAP financial measures. The transaction with EVOQ is expected to have a de minimis financial impact on Gilead’s GAAP and non-GAAP EPS.