Compugen gets badly-needed lift as Gilead strikes deal for IL-18 program

Gilead’s deal for Compugen’s IL-18 program will give the biotech a cash lifeline that could grow stronger as the antibody moves toward an IND submission next year — and gave a much-needed boost to the Israeli biotech’s share price weeks after NASDAQ warned it of a potential delisting.

Gilead Sciences Inc. (NASDAQ:GILD) is paying Compugen Ltd. (Tel Aviv:CGEN; NASDAQ:CGEN) $60 million up front, plus $30 million if FDA clears the program’s IND as the partners expect next year. The deal includes up to an additional $758 million in milestones, as well as royalties in the low double digits...