Top Biopharma Deal June 2021: iTeos – GSK for EOS-448 anti-TIGIT mAb for Solid Tumors

Jul 1, 2021 | Deal of the Month, Partnership Deals

June 2021 Top Biopharma Deal Upfront
iTeos development and commercialization deal with GSK for EOS-448

Highlighted Deal Financial Comps

Date Announced:

June 14, 2021

Total Deal Value:


Upfront Cash:


Upfront Equity:


Option Payments:


Total Milestones:

$1,450M Dev. and Sales


Tiered ex-U.S.

Cost & Profit Split:

50% U.S.

Deal Synopsis

The Asset:

Phase II EOD-448 anti-TIGIT IgG1 mAb which binds to TIGIT and blocks its interaction with certain ligands, including CD155, CD112, and CD226 to activate an immune response from T cells and natural killer cells as part of the checkpoint pathway. IgG1 binds FcyR and triggers a pro-inflammatory cytokine release and activates antigen presenting cells and depletion of TIGIT+ Tregs and exhausted T cells.

Deal Structure:

Development and Commercial License

Partnership Features:

GSK is fully responsible for R&D costs, 50% of U.S. commercialization, and 100% of ex-U.S. commercialization.

Deal Details:

  • iTeos granted GSK exclusive, worldwide rights to develop and commercialize EOS-448 for solid tumors.
  • GSK will be fully responsible for global R&D costs, 50% of U.S. commercialization, and 100% of ex-U.S. commercialization costs.
  • iTeos Therapeutics will receive $625M up front and is eligible to receive up to $1.45B in milestone payments, a 50% cost and profit split in the U.S., and tiered royalties ex-U.S.

Last Month:

Congrats to iTeos and GSK for landing the DealForma June 2021 Top Biopharma Deal of the Month. The Deal of the Month for May 2021 was also a TIGIT deal among Agenus and BMS for AGEN-1777. 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.

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