Vir Biotechnology and Gilead partner on $1.88B cancer therapy deal

Vir Biotechnology has partnered with Gilead Sciences in an oncology deal worth up to $1.88 billion to develop dual-masked T-cell engagers for solid tumors. Vir receives $90 million upfront, including a $25 million equity investment, plus potential milestones and royalties. Under CEO Marianne De Backer, who joined in 2023, Vir has pivoted from virology to immuno-oncology. Shares of Vir rose over 10% in premarket trading on October 14, 2026.

Terms of the Gilead partnership

• ▪Vir Biotechnology is eligible to receive up to $45 million in near-term preclinical milestones, up to $1.74 billion in future development, regulatory, and commercial milestone payments, and tiered royalties ranging from high single digits to low double digits on net sales
• ▪Under Vir Biotechnology's agreement with Gilead Sciences, Vir Biotechnology will conduct early research and design for three solid tumor candidates, while Gilead Sciences holds exclusive rights for clinical testing, manufacturing, and commercialization
• ▪Under the terms of Vir Biotechnology's partnership with Gilead Sciences, Vir Biotechnology receives $90 million upfront, which includes $65 million upfront cash and a $25 million equity investment from Gilead Sciences at a 30% premium
• ▪Vir Biotechnology partnered with Gilead Sciences on October 14, 2026 in a collaboration agreement worth up to $1.88 billion to discover and develop T-cell engager cancer therapies for solid tumors

Vir Biotechnology stock performance

• ▪Vir Biotechnology shares increased 78% between the start of 2026 and October 14, 2026
• ▪Following the October 14, 2026 announcement of its cancer therapy partnership with Gilead Sciences, Vir Biotechnology shares rose more than 10% in premarket trading

T-cell engager masking technology

• ▪Vir Biotechnology's T-cell engager technology keeps therapies dormant behind a mask until tumor-specific enzymes sever the mask at the tumor site, activating the treatment while sparing healthy tissue to reduce toxicity
• ▪Vir Biotechnology utilizes its PRO-XTEN masking technology and proprietary dAIsY AI platform to design dual-masked T-cell engager candidates against solid tumors

Oncology pivot under leadership

• ▪Under Chief Executive Officer Marianne De Backer, Vir Biotechnology pivoted into oncology by licensing T-cell engager technology from Sanofi and establishing a prostate cancer partnership with Astellas with plans to enter Phase 3 trials in 2027
• ▪Chief Executive Officer Marianne De Backer stated that Vir Biotechnology plans to fund its future cancer immunotherapy pipeline using revenue generated from launching its chronic hepatitis delta treatment in the United States
• ▪Vir Biotechnology appointed Marianne De Backer as Chief Executive Officer in 2023 to pivot the company toward oncology as Vir's virology prospects declined following Vir's COVID-19 drug development