ISTANBUL

US based biopharmaceutical firm Gilead Sciences announced Monday that it entered into a definitive agreement to acquire cancer drug developer Arcellx for around $7.8 billion.

The transaction included $115 per share in cash, and a contingent value right of $5 per share.

The acquisition aimed to maximize the long-term potential of anito-cel, an investigational cell therapy for patients with multiple myeloma.

Kite, a Gilead subsidiary, already collaborated with Arcellx to co-develop and commercialize this innovative immunotherapy treatment.

Gilead Chairman and CEO Daniel O'Day stated that the agreement reflected the company's conviction in the potential of the new therapy to help cancer patients.

The US Food and Drug Administration previously accepted the biological license application for anito-cel with an anticipated action date of Dec. 23, 2026.

The boards of directors for both companies approved the transaction, which they expected to close during the second quarter of 2026.

Prior to the merger announcement, Gilead already owned approximately 11.5% of Arcellx's outstanding common stock.