Biopharmaceutical company Gilead Sciences Inc (Nasdaq:GILD) announced on Monday that it has agreed to acquire Arcellx (NASDAQ:ACLX) for USD115 per share in cash plus a USD5 contingent value right, implying an equity value of USD7.8bn.

Arcellx is a biotechnology company focused on delivering a new class of innovative immunotherapies for patients with cancer and other incurable diseases.

The transaction, approved by both boards, is expected to close in the second quarter of 2026 subject to customary conditions, including a majority tender of Arcellx shares and regulatory approvals. Gilead currently owns about 11.5% of Arcellx's outstanding stock.

This acquisition builds on a 2022 collaboration between Arcellx and Kite to co-develop and co-commercialise anitocabtagene autoleucel (anito-cel), an investigational BCMA-directed CAR T-cell therapy for multiple myeloma. The US Food and Drug Administration (FDA) has accepted the Biologics License Application for anito-cel as a fourth-line treatment for relapsed or refractory multiple myeloma, with an anticipated Prescription Drug User Fee Act (PDUFA) action date of 23 December 2026.

Clinical studies to date have shown deep and durable responses with a predictable and manageable safety profile.

Gilead said that full ownership will accelerate the development and commercialisation of anito-cel while eliminating profit-share, milestones and royalties. Arcellx's D-Domain CAR platform and BCMA binder technology may also support next-generation CAR T-cell and bispecific therapies.

The deal is expected to be accretive to earnings per share from 2028 upon FDA approval of anito-cel.