aibioVir Biotechnology agrees to sell Gilead 1,765,486 shares for about $25 million
Tickers VIR
The stock purchase comes with a collaboration to engineer three T-cell engager candidates for solid tumors. Closing is subject to customary conditions.
Key facts
- Company
- Vir Biotechnology, Inc. (NASDAQ: VIR)
- News type
- Financings
- Primary source
- Vir Biotechnology, Inc. 8-K (2026-10-14)
Vir Biotechnology, Inc. (Nasdaq: VIR) said that on October 9, 2026 it entered a Collaboration and License Agreement with Gilead Sciences, Inc. The two companies will work to discover and engineer three novel PRO-XTEN dual-masked T-cell engager development candidates aimed at selected solid tumor-associated antigens.
At the same time, the companies signed a Stock Purchase Agreement. Gilead has agreed to buy 1,765,486 shares of Vir's common stock at $14.16 per share, an aggregate purchase price of approximately $25 million. The sale is subject to customary closing conditions.
The agreement includes standstill, voting and lockup provisions, with customary exceptions, that expire one year after the anticipated closing. A standstill limits what an investor may do to gain more control of the company. One year after the anticipated closing, Gilead will have, under certain circumstances, a customary right to require Vir to register the shares for resale.
Vir will sell the shares under the exemption in Section 4(a)(2) of the Securities Act of 1933. It relied on that exemption in part on Gilead's representation that it is an accredited investor.