Gilead to Acquire Tizona’s Stakes for $300M

 Gilead to Acquire Tizona’s Stakes for $300M

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

Click here to read full press release/ article | Ref: Gilead | Image: Pharmacy Business

Tuba Khan

Tuba Khan is Senior Editor at PharmaShots. She is curious, creative, and passionate about recent updates and innovation in the Life sciences industry. She covers Biopharma, MedTech, and Digital health segments. Tuba also has an experience of digital and social media marketing and runs the campaigns independently. She can be contacted on tuba@pharmashots.com

Related post