HOOKIPA has completed the first research milestone by designing and delivering 14 research-grade vectors to Gilead, along with the characterization of these vectors and delivery of a data package for the HIV program. Pursuant to the terms of the agreement, HOOKIPA is entitled to a sizeable milestone payment from Gilead.
Joern Aldag, HOOKIPA’s Chief Executive Officer said: “We are pleased to have achieved our first milestone within the collaborative HIV program with Gilead. This great achievement reflects our joint commitment to develop and deliver new treatment options for patients suffering from these infectious diseases. It also reflects HOOKIPA´s dedication to further validate our technology in infectious disease.”
Under the terms of the agreement, Gilead provided an upfront payment of $10 million and will fund all research and development activities. HOOKIPA will be eligible to receive milestone payments based upon the achievement of specified development, regulatory, and commercial milestones up to a total of approximately $400 million. HOOKIPA will also be eligible to receive tiered royalties on net sales.