Gilead Buying Initial 49.9% Stake in Tizona Therapeutics for $300 Million
July 21 2020 - 9:17AM
Dow Jones News
By Colin Kellaher
Gilead Sciences Inc. Tuesday said it will invest $300 million to
acquire a 49.9% stake Tizona Therapeutics Inc., along with an
exclusive option to buy the rest of the privately held cancer
immunotherapies company for up to $1.25 billion.
The Foster City, Calif., biopharmaceutical company said the
additional consideration includes an option exercise fee and
potential future milestone payments.
Gilead said it will provide funding to support Tizona's ongoing
research and development to advance its novel pipeline. The South
San Francisco, Calif., company is developing TTX-080, a potential
first-in-class medicine that targets HLA-G, a novel and emerging
immune checkpoint expressed across multiple tumor types.
Gilead said Tizona plans to initiate a phase 1 trial evaluating
TTX-080 both as a monotherapy and in combination with other agents
in patients with advanced cancers.
Gilead said it expects to complete the initial Tizona
transaction in the third quarter.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
July 21, 2020 09:02 ET (13:02 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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