Gilead Sciences, Inc. has announced that for $275 million, Gilead will acquire a 49.9 percent equity interest in Pionyr Immunotherapeutics Inc., a privately held company developing first-in-class cancer immunotherapies, along with an exclusive option to purchase the remainder of Pionyr. Under the agreement, Pionyr’s shareholders may receive up to an additional $1.47 billion in option exercise fees and future milestone payments.
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Gilead Sciences, Inc. has announced that for $275 million, Gilead will acquire a 49.9 percent equity interest in Pionyr Immunotherapeutics Inc., a privately held company developing first-in-class cancer immunotherapies, along with an exclusive option to purchase the remainder of Pionyr. Under the agreement, Pionyr’s shareholders may receive up to an additional $1.47 billion in option exercise fees and future milestone payments. Latham & Watkins represents Pionyr Immunotherapeutics Inc. in the transaction with a corporate deal team led by Bay Area partners Luke Bergstrom and Mark Bekheit with Orange County associate Brett Urig and Bay Area associates Michelle Lu, Cigi Puthuppally and Amanda Dillon. Advice was also provided on emerging companies matters by Bay Area partner Benjamin Potter with Bay Area associate Michael Podolny; on intellectual property matters by Bay Area partner Judith Hasko with Bay Area associates Jekkie Kim and Peggy Ni; on benefits and compensation matters by Bay Area partner James Metz with Bay Area associate Brianna Stellpflug; on regulatory matters by Washington, D.C. partner Ben Haas with Washington, D.C. associate Nathan Beaton; on healthcare and privacy matters with Bay Area counsel Betty Pang and Heather Deixler; on tax matters by Bay Area partner Grace Lee with Los Angeles associate Abigail Friedman; and on antitrust matters by Washington, DC partner Mandy Reeves and Washington, D.C. counsel Patrick English. Catie Weckenman Public Relations Lead – Transactions Team LATHAM & WATKINS LLP 555 Eleventh Street, NW Suite 1000 Washington, D.C. 20004-1304 Direct Dial: +1.202.350.5230 Fax: +1.202.637.2201 Email: catie.weckenman@lw.com ______________________________ This email may contain material that is confidential, privileged and/or attorney work product for the sole use of the intended recipient. Any review, disclosure, reliance or distribution by others or forwarding without express permission is strictly prohibited. If you are not the intended recipient, please contact the sender and delete all copies including any attachments. Latham & Watkins LLP or any of its affiliates may monitor electronic communications sent or received by our networks in order to protect our business and verify compliance with our policies and relevant legal requirements. Any personal information contained or referred to within this electronic communication will be processed in accordance with the firm's privacy notices and Global Privacy Standards available at www.lw.com.
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