Tizona develops oncology drugs, which Gilead said will help it boost its immuno-oncology pipeline.
Under the deal, Gilead has the option to acquire the rest of the company for $1.25 billion. Gilead can wait to acquire the rest of the company until Tizona completes a clinical trial of one of its experimental drugs, or it can acquire the company earlier, according to a news release.
The companies said it expects the transaction to close in the third quarter of this year, subject to antitrust approval.
Read Gilead’s full news release here.
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