May 2022 Top Biopharma Deal: Dragonfly Therapeutics – Gilead Sciences NK cell engager for cancer/inflammation

Jun 3, 2022 | Deal of the Month, Partnership Deals

May 2022 Top Biopharma Deal Upfront
Dragonfly Therapeutics development and commercialization deal with Gilead Sciences for solid tumors

Highlighted Deal Financial Comps

Date Announced:

May 2, 2022

Total Deal Value:

$300M + Undisclosed opt-ins and milestones

Upfront Cash:


Upfront Equity:


Option Payments:

Undisclosed opt-in payments

Total Milestones:

Undisclosed dev., reg., and sales milestones


Up to 20% royalties on worldwide net sales

Cost & Profit Split:


Deal Synopsis

The Asset:

Dragonfly Therapeutics’ DF-7001 5T4-targeting NK cell engager-based immunotherapy for solid tumors

Deal Structure:

Development and Commercial License

Partnership Features:

Collaborative Development, No Shared Cost; Option to Add NK Cell Engager Programs from the Tri-specific NK Engager (TriNKET) Platform

Deal Details:

  • Dragonfly granted Gilead exclusive, worldwide rights to develop and commercialize Dragonfly’s 5T4-targeting immunotherapy DF-7001 for the treatment of cancer and inflammation.
  • Gilead has an exclusive, worldwide option to develop and commercialize additional NK cell engager programs by using its Tri-specific NK Engager (TriNKET) platform after the completion of certain preclinical activities.
  • Dragonfly will receive $300M up front and is eligible to receive undisclosed opt-in payments and development, regulatory, and commercial milestones, plus up to 20% royalties.

Last Month:

Congrats to Dragonfly Therapeutics and Gilead Sciences for landing DealForma’s May 2022 Top Biopharma Deal. Last month’s Deal of the Month was Harbour BioMed and AstraZeneca’s bispecific antibody deal for cancer treatment. Read about it here.

DealForma’s Deal of the Month selection is based on the largest disclosed upfront cash and equity total in partnership deals involving R&D as announced in the month prior to this article. Data for this analysis was compiled using the DealForma biopharma deals database. All data are based on publicly disclosed figures and deal terms.

We invite you to answer interesting questions on biopharma business development and licensing using our data and carefully curated profiles on deals, pipelines, companies, funding, and business executives by visiting to schedule your personalized demo.


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