4 January 2023 - - US-based biopharmaceutical company Gilead Sciences, Inc. (NASDAQ: GILD) and US-based EVOQ Therapeutics, Inc. have forged a collaboration and licensing agreement to advance EVOQ's proprietary technology for the treatment of rheumatoid arthritis and lupus, the companies said.

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.

Beginning in the first quarter of 2022, consistent with recent industry communications from the US Securities and Exchange Commission, 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.

Under the terms of the agreement, EVOQ could potentially receive up to USD 658.5m total in upfront, option exercise and milestone payments across all programs, as well as tiered royalties on product sales.

EVOQ Therapeutics is advancing a pipeline of disease-specific immune modulators to treat patients afflicted with autoimmune diseases.

EVOQ's technology platform utilizes a proprietary NanoDisc that has been optimized to deliver antigens to restore immune tolerance.

Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people.

The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis, cancer, and inflammation. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California.