Gilead Sciences Inc. and Assembly Biosciences Inc. have entered into a 12-year partnership to advance the research and development of novel antiviral therapies, with an initial focus on Assembly’s established areas of herpesviruses, hepatitis B virus (HBV) and hepatitis D virus (HDV).
What CEO Jason Okazaki called Assembly Biosciences Inc.’s “monumental” deal for new antivirals with Gilead Sciences Inc. brings $100 million right away, consisting of an $84.8 million up-front payment and a $15.2 million equity investment. Wall Street liked it, and shares of South San Francisco-based Assembly (NASDAQ:ASMB) closed Oct. 17 at $1.25, up 52 cents or 72%, on word of the 12-year arrangement. Gilead (NASDAQ:GILD) ended at $80.48, up $1.28.
Researchers from Assembly Biosciences Inc. reported on the preclinical characterization of ABI-5366, a potent helicase-primase inhibitor against both HSV-1 and HSV-2.
Assembly Biosciences Inc. has selected development candidate ABI-5366 to progress to IND-enabling studies from its long-acting herpes simplex virus type 2 (HSV-2) helicase inhibitor program for high-recurrence genital herpes. The company is targeting IND/CTA filings in the first half of next year.
