Gilead pens $2B Arcus pact for immuno-oncology targets of the past and future

Last month, rumors out of Bloomberg whispered that Gilead Sciences, more known for its COVID-19 work these days, was gearing up for a major stake in immuno-oncology player Arcus.

Today, we learned those rumors were true, and there’s some big bucks action behind it: Gilead is paying $175 million upfront with a $200 million equity investment weighted in.