On February 23, 2026, Gilead Sciences announced that it has entered into a definitive agreement to acquire Arcellx, a biotechnology company focused on delivering a new class of innovative immunotherapies for patients with cancer and other incurable diseases, for $115 per share in cash at closing and one contingent value right of $5 per share, which represents an implied equity value of $7.8 billion payable at closing. Wilson Sonsini Goodrich & Rosati advised Arcellx on the transaction.
Kite, a Gilead company, and Arcellx have an existing collaboration to co-develop and co-commercialize Arcellx’s lead pipeline candidate, anitocabtagene autoleucel (anito-cel), an investigational BCMA-directed CAR T-cell therapy for patients with multiple myeloma. Through this acquisition, Gilead hopes to maximize the long-term potential of anito-cel. In addition, Arcellx’s D-Domain CAR technology platform has generated proprietary, target-binding domains with improved specificity and enhanced binding affinity that could potentially be used for next-generation CAR T-cell and bispecific therapies. There is potential to leverage the D‑domain BCMA binder in vivo cell therapy efforts.
The transaction was approved by both the Gilead and Arcellx boards of directors and is anticipated to close during the second quarter of 2026, subject to the satisfaction or waiver of customary closing conditions.
The Wilson Sonsini team that advised Arcellx on the acquisition included:
M&A
Rob Ishii
Ross Tanaka
Dennise Martinez
Rayna Guo
Jessica Li
Drew Downing
Corporate
Dan Koeppen
Rob Wernli
David Sharon
Jennifer Fang
Bridget Balisy
Hyo Min Kim
Dante Matera
Employee Benefits and Compensation
Brandon Gantus
Michael Klippert
Jason Chan
Sophia Friedfertig
Emma Wilcox
Laura Yun
Employment Law
Matt Gorman
Quinn Christie
Delaware Corporate
Amy Simmerman
James Griffin-Stanco
Ryan Hart
Technology Transactions
Ian Edvalson
Norm Hovijitra
Morgan Logan
Isaiah Loya
Gopika Mesrobian
Taylore Williams
Antitrust and Competition
Jamillia Ferris
Michelle Hale
Deirdre Carroll
Kimberly Biagioli
Andrew Morrison
Data, Privacy, and Cybersecurity
Michael O'Brien
Matt Staples
Chany Kim
Patents and Innovations
Maya Skubatch
Rex Watkins
Nicole Zeinstra
Trademark and Advertising
Aaron Hendelman
National Security
Anne Seymour
Nimit Dhir
Real Estate
Sean Wilkinson
For more information, please see Arcellx’s news release.
