Gilead won't acquire checkpoint oncology biotech Tizona
06 Feb 2024
AcquisitionImmunotherapyIPO
Gilead has now passed on two biotech buyout options that it forged in summer 2020.
The large drugmaker will not acquire Tizona Therapeutics, a fellow California biotech working on a new type of checkpoint therapy for certain cancers, a Gilead spokesperson confirmed to
Endpoints News
via email on Tuesday evening.
Gilead had
paid about $300 million
in July 2020 to acquire almost 50% of Tizona and held onto the right to swoop up the rest for a $100 million fee, plus as much as $1.2 billion more down the road in development and regulatory biobucks. Earlier that summer, Gilead had inked a similar option with Pionyr Immunotherapeutics, but in March 2023, the drugmaker
opted not to follow through
with a full buyout of that biotech either.
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