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Gilead To Buy 49.9% Stake In Latham-Led Drug Co. For $275M

Tiomkin Law Offices of Elliott Tiomkin > Legal News  > Gilead To Buy 49.9% Stake In Latham-Led Drug Co. For $275M

Gilead To Buy 49.9% Stake In Latham-Led Drug Co. For $275M

Law360 (June 23, 2020, 9:34 PM EDT) — Biopharmaceutical giant Gilead said Tuesday that it has agreed to purchase a 49.9% stake in a Latham & Watkins-advised cancer treatment company for $275 million, with the option to buy the remaining stake later.

Gilead Sciences Inc. said it has the exclusive opportunity to purchase the rest of South San Francisco-based Pionyr Immunotherapeutics Inc. for an additional $315 million and up to $1.15 billion in payments after the company hits certain milestones. Gilead can also nominate someone to Pionyr’s board.

In a statement, Gilead Chairman and CEO Daniel O’Day lauded Pionyr’s “promising” work in the cancer treatment, or immuno-oncology, sphere….

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