Gilead's Kite Pharma Collaborates With Shoreline Biosciences For Cell Therapies For Cancer Settings - Gilead Sciences (NASDAQ:GILD)

Kite Pharma, a unit of Gilead Sciences Inc GILD and Shoreline Biosciences Inc, has entered into a strategic partnership to develop novel cell therapies across various cancer targets.
The collaboration will focus initially on chimeric antigen receptor (CAR) NK targets, with Kite having an option to expand the partnership to include an iPSC CAR Macrophage program for an undisclosed target to be selected post-deal execution.
This agreement follows Kite's investment in Shoreline's recent Series A financing.
Under the terms of the agreement, Shoreline will receive an upfront payment. It will be eligible to receive additional payments totaling over $2.3 billion and royalties based on achieving certain development and commercial milestones.
Price Action: GILD shares are down 0.58% at $66.94 during the market trading session on the last check Thursday.