Next-Generation Cancer Treatment Targets Major Deal: Acquisition Framework Worth Up to 10 Trillion Won

Arcellx, Inc. (NASDAQ: ACLX) disclosed in its initial Schedule 13D filing that Gilead Sciences, Inc. (NASDAQ: GILD) holds an 11.5% stake, revealing details of two prior private purchases totaling $300 million (approximately ₩400 billion). Upon the expiration of the existing standstill agreement, Gilead has proposed a merger and a tender offer to acquire 100% of Arcellx at $115 per share in cash plus $5 per share in contingent value rights (CVRs). Gilead has secured tender‐support agreements covering roughly 10.3% of Arcellx’s outstanding shares and plans to complete a follow-on merger that will result in full ownership, subsequent delisting, and deregistration.

On February 23, 2026, Gilead officially announced its agreement to acquire Arcellx for up to $7.8 billion (around ₩10 trillion), targeting deal close in the second quarter of 2026. The companies are co‐developing anito-cel, a CAR-T therapy for multiple myeloma, with the U.S. FDA’s approval anticipated by December 23, 2026.

Arcellx is a clinical-stage biotech focused on CAR-T cell therapies for hard-to-treat cancers, including multiple myeloma. Its core assets are the BCMA-targeting therapy anito-cel and the controllable ARC-SparX platform. The global CAR-T therapy market is projected to exceed $146.5 billion (about ₩190 trillion) by 2034, with next-generation multiple myeloma cell therapies driving the sector’s growth.