Gilead Sciences set to acquire a 49.9% equity interest in Pionyr and exclusive option for the price of $275 Million. Gilead will also provide funding for Pionyr’s clinical programs and will have the right to acquire the remainder of Pionyr shares for a $315 Million option exercise fee. Pionyr is eligible to receive up to $1.15 Billion in future milestone payments upon achievement of certain development and regulatory achievements.
Pionyr Immunotherapeutics was founded by principal researcher Max Krummel, PhD, of the Robert E. Smith Endowed Chair in Experimental Pathology, UCSF.