Steven James, Pionyr Immunotherapeutics CEO

Gilead pass­es on ful­ly ac­quir­ing Pi­o­nyr, as eyes now turn to Tizona, a fel­low sum­mer 2020 buy­out op­tion

Gilead and Pi­o­nyr Im­munother­a­peu­tics, a biotech try­ing to fol­low up on the first gen­er­a­tion of check­point in­hibitors, have “mu­tu­al­ly agreed” on a rewrite to their 2020 terms, with Gilead de­cid­ing not to buy out the com­pa­ny.

The Cal­i­for­nia bio­phar­ma waived its op­tion to ac­quire the re­main­ing 50.1% of Pi­o­nyr, which would have trig­gered a $315 mil­lion up­front pay­ment and up to $1.15 bil­lion down the road. Had Gilead wait­ed to de­cide, the drug­mak­er would have had a po­ten­tial pay­ment to make in the near term un­der their agree­ment, a spokesper­son said in an email to End­points News.

Endpoints News

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