Xilio Therapeutics (XLO) has issued an announcement.
Xilio Development, Inc. secured an exclusive license agreement with Gilead Sciences for the clinical-stage cancer treatment XTX301, with the potential for Gilead to take over development and commercialization. Xilio will receive an upfront payment of $43.5 million and could earn up to $604 million more, plus tiered royalties on sales. The agreement also includes an equity investment by Gilead and an initial stock purchase, with provisions for additional private placements. This strategic financial collaboration aims to advance Xilio’s clinical trials and overall development, while also providing the company with significant funding and the possibility of future payments based on milestones and sales.
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