Gilead lines up a $1.55B biotech buyout deal as CEO Dan O’Day invests in his latest cancer blockbuster dream
The Gilead BD team has teed up another oncology deal for CEO Dan O’Day.
This time the big biotech is rolling out a $300 million cash investment in Tizona Therapeutics in South San Francisco, buying up 49.9% of the company and reserving up to $1.25 billion more to swallow the whole enchilada if the biotech’s ambitious Phase I program for their HLA-G drug TTX-080 pans out as hoped for.
The deal is squarely focused on this one drug, which Tizona CEO Scott Clarke has billed as a bright new hope for treating tumors that escape the current generation of PD-(L)1 drugs in or near the market. And it’s not their lead.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.