3 Firms Steer Gilead's $300M Purchase Of Cancer Biz Stake

Law360 (July 21, 2020, 5:02 PM EDT) -- Gilead said Tuesday it will pay $300 million for a stake in cancer immunotherapies company Tizona Therapeutics and could acquire the rest of Tizona later, a deal put together by Ropes & Gray LLP, Latham & Watkins LLP and Squire Patton Boggs.

The deal includes an exclusive option for California-based Gilead Sciences Inc. to acquire the rest of Tizona Therapeutics Inc. for up to an additional $1.25 billion, the announcement said. The biopharmaceutical giant may use that option following the clinical study results of a Tizona antibody, or earlier if it chooses.

Gilead said the deal bolsters its immuno-oncology pipeline, which...

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