Gilead Sciences will invest $275m for a 49.9% stake in the UofT and UCSF-linked company as part of a $1.47bn deal to potentially purchase Pionyr outright.
Pionyr Immunotherapies, a US-based immuno-oncology developer commercialising research from University of Toronto (UofT) and University of California, San Francisco (UCSF) secured a $275m commitment from biopharmaceutical firm Gilead Sciences on Tuesday.
Gilead will acquire a 49.9% in Pionyr through the deal, which forms part of a larger agreement worth up to $1.47bn that gives the corporate an exclusive option to purchase the remaining shares for another $315m.
Pionyr would then also be in line for up to $1.15bn…
