Benzinga | Apr 1, 2021 10:05AM EDT

AbCellera, Gilead Ink New Multi-Target Antibody Discovery Collaboration

* AbCellera Biologics Inc (NASDAQ: ABCL) has announced agreements to expand its collaboration with Gilead Sciences Inc (NASDAQ: GILD), including a multi-year, multi-target antibody discovery collaboration.

* Under the agreements' financial terms, AbCellera will receive an upfront payment and is eligible for milestone payments and royalties.

* Under the new agreement, AbCellera will generate panels of antibodies for up to eight new targets selected by Gilead.

* The expanded collaboration will leverage AbCellera's fully humanized antibodies using the Trianni Mouse platform and the OrthoMab protein engineering platform.

* Price Action: GILD shares increased 1.75% at $65.74, and ABCL shares are up 8.33% at $36.79 on the last check Thursday.