Gilead to sign $275M deal with cancer drugmaker

Gilead announced June 23 it will buy 49.9 percent of San Francisco-based immunotherapy company Pionyr for $275 million, with the option to buy out the company entirely.

The deal will allow Gilead to take on Pionyr's technology, namely its myeloid-tuning therapy, which rebalances a tumor's microenvironment to privilege immune-activating cells over immune-suppressing ones. Gilead is focusing on PY314 and PY159, Pionyr's two preclinical antibodies developed to enhance anti-tumor immunity.

The myeloid-tuning technology exhibits potential to treat patients who are resistant to checkpoint inhibitor therapies.

"The agreement represents important progress as we continue to build out Gilead's presence in immuno-oncology with innovative and complementary approaches," Daniel O'Day, Gilead's CEO, said in a news release.

More articles on pharmacy:
Court invalidates Biogen's Tecfidera patent
Average pharmacist salaries, by state
Walgreens continues providing vaccinations, implements new safety protocols

© Copyright ASC COMMUNICATIONS 2021. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.