Gilead Sciences’ (Nasdaq: GILD) shares dipped 1.7% to $76.76 on Tuesday, after it announced that it will invest $300 million to acquire a 49.9% equity interest in Tizona Therapeutics, a privately held company developing first-in-class cancer immunotherapies, with the intention of buying the whole company later.
Just last month, Gilead revealed that it will pay $275 million to acquire a 49.9% equity interest in privately-held Pionyr Immunotherapeutics and an exclusive option to purchase the remainder of the immuno-oncology (I-O) company. In March this year, Gilead also announced its $4.9 billion bid for Forty Seven, another I-O company.
Gilead will also receive an exclusive option to acquire the remainder of Tizona for up to an additional $1.25 billion, including an option exercise fee and potential future milestone payments.
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