Gilead Sciences Invests $300 Million in an Immuno-Oncology Startup

Gilead Sciences (NASDAQ: GILD) announced Tuesday it's paying $300 million for a 49.9% ownership stake in Tizona Therapeutics and an option to acquire the company outright later for up to $1.25 billion in fees and potential milestone payments.

The deal provides the privately owned company with financing to support the development of TTX-080, a potential first-in-class immunotherapy targeting HLA-G, an immune checkpoint molecule expressed in multiple tumor types. A phase 1 study of HLA-G as monotherapy and in combination with existing treatments is set to begin enrolling patients this quarter.

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Source Fool.com