With deal for Tizona, Gilead places latest bet on cancer immunosuppression
As its investors get partial exit, deal gives Tizona $300M up front, chance to reach clinical POC
For the second time in as many months, Gilead has made a large investment in a biotech in the cancer immunosuppression area, paying $300 million up front to acquire nearly half of privately-held Tizona with an exclusive option to buy the rest after a clinical readout.
The deal gives Gilead Sciences Inc. (NASDAQ:GILD) a chance to gain full ownership of TTX-080, a first-in-class antibody that inhibits immune checkpoint HLA-G. Tizona plans to begin a Phase I trial of the therapy this quarter; Gilead may exercise its option upon completion of Phase Ib testing, or earlier. That could occur within about two and a half years, Tizona CEO Scott Clarke told BioCentury...