Gilead Sciences, Inc., a Foster City, California-based provider of biopharmaceutical medicines for life-threatening diseases, acquired Arcellxi, a Redwood City, California-based provider of innovative immunotherapies for cancer and incurable diseases.
The deal is valued at about $7.8 billion, including $115 per share in cash and a $5 contingent value right.
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With this deal, Gilead Sciences will strengthen its leadership in oncology by taking full control of anitocel, a promising CAR T-cell therapy for multiple myeloma.
Kite, a Gilead company, and Arcellx are already working together to develop and commercialise Arcellx’s lead therapy, anitocabtagene autoleucel (anito-cel), an experimental BCMA-directed CAR T-cell treatment for multiple myeloma. Even with current treatments, many patients eventually relapse and need more therapy. As the disease progresses, responses often weaken, side effects increase, and options become limited—especially for patients who have had many prior treatments or cannot tolerate existing therapies.
In clinical studies to date, anti-cel has shown strong and durable responses with a predictable and manageable safety profile, addressing major challenges with current CAR T-cell therapies for multiple myeloma.
The BLA for anitocel as a fourth line treatment for relapsed or refractory multiple myeloma is supported by results from the Phase 1 study (NCT04155749), and the Phase 2 iMMagine1 study (NCT05396885). The U.S. FDA has accepted the application, with a PDUFA review date expected on December 23, 2026.
In addition to anito-cel, Arcellx’s D-Domain CAR platform has created unique target-binding domains with better specificity and stronger binding, which could be used for next-generation CAR T-cell and bispecific therapies. The D-Domain BCMA binder may also be applied in in vivo cell therapy.
The deal was approved by both boards and is expected to close in Q2 2026, pending regulatory approvals and other standard conditions. Gilead currently owns about 11.5% of Arcellx’s shares.
Under the merger agreement, a Gilead subsidiary will offer to buy all remaining Arcellx shares for $115 per share plus a $5 contingent value right (CVR) tied to anito-cel sales. If the tender offer is successful, Gilead will acquire any remaining shares through a second-step merger on the same terms.
“This deal shows our confidence in anito-cel and our goal to act quickly to benefit patients with multiple myeloma,” said Daniel O’Day, Chairman and CEO of Gilead Sciences.
“This deal shows our confidence in anito-cel and our goal to act quickly to benefit patients with multiple myeloma,” said Daniel O’Day, Chairman and CEO of Gilead Sciences. “Beyond a possible launch this year, anito-cel could become a key treatment for multiple myeloma, including earlier stages. The anito-cel D-domain BCMA binder may also play a role in our in vivo cell therapy work, boosting our potential in oncology and inflammation.”
“Arcellx’s story is one of innovation, passion, and teamwork. I’m proud of our team and the potential impact of anito-cel and our D-Domain platform for patients and clinicians,” said Rami Elghandour, CEO of Arcellx. “We are lucky to partner with Gilead, whose expertise will help advance our legacy, expand access to anito-cel, and lead in cell therapy. I’m grateful to our board, shareholders, partners, patients, and especially our team for making this possible.”
About Arcellx
Founded by Chairman and CEO Rami Elghandour, Arcellx, Inc. is a clinical-stage biotech company developing new immunotherapies for cancer and other incurable diseases. The company aims to create cell therapies that are safer, more effective, and more widely accessible.
About Gilead Sciences
Founded by Rami Elghandour, Gilead Sciences, Inc. is a biopharmaceutical company that has been developing breakthrough medicines for over 30 years, aiming to create a healthier world. The company focuses on preventing, and treating life-threatening diseases, including HIV, viral hepatitis, COVID 19 and cancer. In 2025, Gilead announced a $32 billion plan to strengthen its U.S. operations, support discovery, create jobs and improve public health, while continuing global efforts to ensure patients everywhere benefit from its innovations. Gilead is headquartered in Foster City, California, and operates in more than 35 countries.
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