Gilead Holds an Exclusive Option to Acquire Pionyr Immunotherapeutics for ~$1.75B

Gilead Holds an Exclusive Option to Acquire Pionyr Immunotherapeutics for ~$1.75B

Shots:

  • Gilead to acquire 49.9% stakes in Pionyr for $275M and get an exclusive option to acquire the remaining shares. Gilead may exercise its option upon completion of P-Ib studies for PY314 and PY159 or can exercise before the completion by paying $315M as option exercise fee
  • Additionally, Pionyr will receive up to $1.15B as milestones. Meanwhile, Gilead will provide Pionyr with additional funding for the PY314 and PY159 clinical programs, as well as ongoing research and development programs
  • Pionyr’s Myeloid Tuning therapies (PY314 & PY159) showed preclinical efficacy, suggesting potential in solid tumors in combination with anti-PD(L)-1 agents. Pionyr anticipates IND filing with the US FDA for both PY314 and PY159 in Q3’20

Click here to read full press release/ article | Ref: Gilead | Image: Contract Pharma