Gilead lands new cell therapy for Kite in $225M Arcellx deal

Gilead Sciences has landed its Kite unit at Arcellx to work on a phase 2 multiple myeloma cell therapy in a deal worth $225 million upfront. The biotech will gain global scale as it gears up for a future showdown against an already approved med from healthcare behemoth Johnson & Johnson and its partner Legend Biotech.