Top Biopharma Deal June 2021: iTeos – GSK for EOS-448 anti-TIGIT mAb for Solid Tumors

by | Jul 1, 2021

Top Biopharma Partnership by Upfront Cash and Equity

June 2021

iTeos development and commercialization deal with GSK for EOS-448

Announced: June 14, 2021

Total Deal Value: $2,075M

Upfront Cash: $625M

Upfront Equity: n/a

Option Payments: n/a

Milestones: $1,450M Dev. and Sales

Cost and Profit Split: 50% U.S.

Royalties: Tiered ex-U.S.

The Asset:

Phase II EOD-448 anti-TIGIT IgG1 mAb which binds to TIGIT and blocks its interaction with certain ligands, including CD155, CD112, and CD226 to activate an immune response from T cells and natural killer cells as part of the checkpoint pathway. IgG1 binds FcyR and triggers a pro-inflammatory cytokine release and activates antigen presenting cells and depletion of TIGIT+ Tregs and exhausted T cells.

Deal Structure:

Development and Commercial License

Partnership Features:

GSK is fully responsible for R&D costs, 50% of U.S. commercialization, and 100% of ex-U.S. commercialization.

The Details:

  • iTeos granted GSK exclusive, worldwide rights to develop and commercialize EOS-448 for solid tumors.
  • GSK will be fully responsible for global R&D costs, 50% of U.S. commercialization, and 100% of ex-U.S. commercialization costs.
  • iTeos Therapeutics will receive $625M up front and is eligible to receive up to $1.45B in milestone payments, a 50% cost and profit split in the U.S., and tiered royalties ex-U.S.

Last Month:

The Deal of the Month for May 2021 was also a TIGIT deal among Agenus and BMS for AGEN-1777. Read about it here.

DealForma’s Deal of the Month selection is based on the largest disclosed upfront cash and equity total in partnership deals involving R&D as announced in the month prior to this article. Data for this analysis was compiled using the DealForma biopharma deals database. All data are based on publicly disclosed figures and deal terms. We invite you to answer interesting questions on biopharma business development and licensing using our data and carefully curated profiles on deals, pipelines, companies, funding, and business executives by visiting dealforma.com to schedule your personalized demo.

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