By Michael Dabaie
AbCellera Biologics Inc. shares were up 8.5%, to $36.84, in Thursday morning trading.
AbCellera said before the market open that it would expand its collaboration with Gilead Sciences Inc., including a multi-year, multi-target antibody-discovery collaboration and access to AbCellera's humanized mouse technology, the Trianni Mouse.
AbCellera will receive an upfront payment and is eligible for milestone payments and royalties based on the development and commercialization of antibodies generated by AbCellera under this collaboration.
Under the new agreement, AbCellera will generate panels of antibodies for up to eight new targets, across multiple indications, selected by Gilead.
Gilead shares were up 1.5%, to $65.60.
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(END) Dow Jones Newswires
April 01, 2021 10:22 ET (14:22 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.