Gilead will not buy immunotherapy biotech Tizona Therapeutics, backing out of an option that the company paid $300 million for in 2020. The pharma’s opt-in oncology program with the biotech was absent from the company’s pipeline as of the end of 2023. Now, Gilead has confirmed in an email to Fierce Biotech that it will not opt into the deal. Gilead invested $300 million in Tizona back in July 2020 for nearly 50% of the company and exclusive rights to buy out the remainder for up to an additional $1.25 billion. At the center of the deal was TTX-080, a novel checkpoint inhibitor targeting HLA-G, that was on the precipice of a phase 1 trial at the time the deal was announced.
Read the full article: Gilead Will Not Buy Tizona after Paying $300M for the Right to Do So //
Source: https://www.fiercebiotech.com/biotech/gilead-will-not-buy-tizona-after-paying-300m-right-do-so