Pionyr is focused on developing immunotherapies for the treatment of cancer. Credit: blogmood__ from Pixabay.

Gilead Sciences has agreed to acquire a 49.9% equity interest in Pionyr Immunotherapeutics, along with an exclusive option to buy the remaining stake, for $275m.

Gilead will have the right to purchase the remainder of Pionyr for $315m option exercise fees. Pionyr’s shareholders may also be eligible for future milestone payments of up to an additional $1.15bn.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Pionyr is focused on developing immunotherapies for the treatment of cancer. The company’s Myeloid Tuning therapies are meant for patients who currently do not respond to checkpoint inhibitor therapies.

Gilead noted that PY314 and PY159 showed preclinical efficacy, indicating their potential to treat solid tumours when given with known anti-PD(L)-1 agents.

Pionyr intends to submit investigational new drug (IND) applications for PY314 and PY159 to the US Food and Drug Administration (FDA) in the third quarter of this year.

As part of the deal, Gilead will fund Pionyr’s clinical programme of PY314 and PY159, as well as other ongoing research and development programmes.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Gilead Sciences chairman and CEO Daniel O’Day said: “The agreement represents important progress as we continue to build out Gilead’s presence in immuno-oncology with innovative and complementary approaches.

“We look forward to seeing the programmes advance with the goal of developing new therapies that will improve the treatment of cancer.”

Gilead can choose to exercise its exclusive option to purchase the remaining equity after completion of Phase Ib studies for PY314 and PY159, or at an earlier time.

Pionyr Immunotherapeutics president and CEO Steven James said: “This agreement underscores the value of our myeloid tuning platform and the potential of our pipeline of antibody therapeutics designed to turbocharge the immune system within the tumour microenvironment.”

The deal is subject to customary closing conditions and is set to close soon.

Last month, Gilead partnered with Arcus Biosciences to jointly develop and commercialise current and future cancer therapeutic candidates in the latter’s pipeline.