Gilead Sciences will invest $275m in return for a 49.9% stake as part of a deal that could see it purchase the cancer immunotherapy developer outright.
Biopharmaceutical firm Gilead Sciences agreed to pay $275m for a 49.9% stake in US-based immuno-oncology therapy developer Pionyr Immunotherapies on Tuesday as part of a wider agreement.
The deal gives Gilead the option to fully acquire Pionyr for a further $315m, and the latter’s shareholders could eventually earn a total of $1.47bn in option exercise fees and milestone payments. Gilead can exercise its option at any point up to the completion of phase 1b clinical trials for Pionyr’s two lead…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
