Assembly Biosciences Secures $30.1 Million Investment from Gilead to Boost Clinical Development
Assembly Biosciences, Inc., a biotechnology company focused on developing innovative antiviral therapeutics, has announced a substantial financial boost from Gilead Sciences, Inc. The investment includes a $20.1 million equity purchase by Gilead to acquire additional Assembly Bio common stock and an amendment to their collaboration agreement, providing $10 million in accelerated funding. This strategic financial injection is set to propel the research and development of novel antiviral therapies, with a particular emphasis on accelerating the clinical development of ABI-6250, an orally bioavailable viral entry inhibitor targeting hepatitis D virus (HDV).
With this new equity investment, Gilead's ownership stake in Assembly Bio escalates to 29.9%. The funding is earmarked for advancing Assembly Bio's clinical pipeline, which includes candidates for herpesviruses, HDV, and hepatitis B virus (HBV). The company anticipates releasing data from several ongoing clinical studies in the near future, including interim Phase 1b proof-of-concept data for ABI-5366 in the first half of 2025.
The amendment to the collaboration agreement between Gilead and Assembly Bio adjusts the option timepoints and payment structure for ABI-6250, facilitating updated clinical strategies aimed at accelerating and optimizing program development. This adjustment includes the acceleration of $10 million in option-related payments for the ABI-6250 program.
Jason Okazaki, CEO and president of Assembly Bio, highlighted the significance of Gilead's investment, stating it strengthens the company's balance sheet and supports the advancement of their novel antiviral candidates. He also noted the expected reduction in the development timeline for ABI-6250, underscoring the collaborative efforts to transform the treatment landscape for individuals affected by serious viral diseases.
Since the inception of their collaboration in October 2023, Assembly Bio has initiated clinical studies for four small molecule antiviral candidates, including ABI-5366 and ABI-4334, with regulatory clearance also obtained for a Phase 1a study for ABI-6250. The equity investment and accelerated funding are projected to extend Assembly Bio's cash runway to mid-2026, ensuring sustained progress in their clinical development programs.
ABI-5366, ABI-1179, ABI-4334, and ABI-6250 remain investigational, with their efficacy and safety yet to be established. Further information on clinical trials involving these candidates is available at www.clinicaltrials.gov.