Abingworth Announces a Strategic Development Financing Agreement with Gilead Sciences Establishes Joint Steering Committee between Launch Therapeutics and Gilead Sciences

London, UK and New York, USA, February 29, 2024 - Abingworth, a leading international life sciences investment group, part of global investment firm Carlyle (NASDAQ: CG), today announced a strategic development financing agreement with Gilead Sciences. The financing agreement will provide up to $210 million in funding to support select clinical studies of Trodelvy® (sacituzumab govitecan-hziy), within non-small cell lung cancer. As part of the agreement, Launch Therapeutics, a clinical development company backed by Abingworth and Carlyle, and Gilead have entered into a clinical collaboration agreement that establishes a Joint Steering Committee throughout development.

Gilead retains full rights to Trodelvy and, if development is successful, Abingworth would receive a fixed payment upon regulatory approval of a pre-defined label expansion, as well as royalty payments based on U.S. Trodelvy net sales within the specific tumor type.