Gilead to develop Dragonfly natural killer cell engager immunotherapy; $300M upfront
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Dragonfly Therapeutics has granted exclusive, worldwide rights for its natural killer (NK) cell engager candidate DF7001 to Gilead Sciences (NASDAQ:GILD).
The immunotherapy is under investigation for solid tumors and is in between the preclinical and IND filing stages of development.

Under terms of an agreement, Gilead (GILD) will make a $300M upfront payment.
Gilead (GILD) has the option to license exclusive rights to develop and commercialize additional NK cell engager programs. Dragonfly is also eligible for milestone payments as well as royalties of up to 20% on worldwide net sales
Dragonfly has licensed some of its other candidates to companies including Bristol-Myers Squibb (BMY), Merck (MRK), and AbbVie (ABBV).
Read why Seeking Alpha contributor Eugenio Catone calls Gilead (GILD) the most undervalued pharmaceutical company.