Gilead takes another acquisition option punt, this one for Tizona

22 July 2020
gilead-big

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.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK

Companies featured in this story

More ones to watch >


Today's issue

Company Spotlight





More Features in Biotechnology