Gilead continues oncology expansion with Tizona deal
Gilead Sciences is continuing its expansion into the field of cancer therapeutics with the purchase of a 49.9% stake in California-based biotechnology company Tizona.
The deal involves an initial $300 million investment, and an exclusive option for Gilead to buy the rest of the company for $1.25 billion.
Gilead can exercise this option following the publication of a Phase 1b study of Tizona’s investigational antibody, TTX-080, which Gilead called a “potential first-in-class” cancer medicine.
The US Food and Drug Administration has cleared Tizona’s investigational new drug application, and Tizona will begin a phase 1 clinical trial later this year.
“This agreement with Tizona adds to the significant progress we’ve made in the first half of this year in building out a strong and diverse immuno-oncology pipeline,” said Gilead CEO Daniel O’Day, adding: “We now have multiple opportunities to develop novel therapies that will improve the treatment of cancer.”
“Gilead’s support will enable Tizona to accelerate and broaden our TTX-080 clinical program while also enabling us to rapidly advance our rich, first-in-class preclinical portfolio and target validation efforts,” said Tizona CEO Scott Clarke.
Earlier this year, Gilead announced a deal to buy immuno-oncology company Forty Seven, including its lead product candidate magrolimab.
The deals mark a broadening of Gilead’s portfolio, which has traditionally been based on antivirals for diseases like HIV, Ebola, and most recently, COVID-19.
Its strength in the antiviral market for these diseases has occasionally drawn criticism over the price of its flagship drugs, particularly in the case of HIV and pre-exposure prophylaxis.
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