Shots:

• Gilead invests $300M to obtain 49.9% equity interest in Tizona and receives an exclusive option to acquire remaining stakes of Tizona for up to an additional $1.25B that includes an option exercise fee and milestones. The transaction is expected to be closed in Q3’20
• Gilead can exercise its option following the results of a P-Ib study of Tizona’s TTX-080- or earlier if it chooses and provides funding to support Tizona’s ongoing research and development to advance its novel pipeline
• Additionally- Tizona will spin-off TTX-03 into a separate entity prior to the closing of this transaction- as a part of its collaboration with AbbVie under which Tizona has received $105M as upfront & an undisclosed equity investment

  Ref: Gilead | Image: Gilead