Following a mutual agreement, Gilead Sciences, Inc. has waived its option to acquire Pionyr Immunotherapeutics Inc. for a pre-set price, enabling Pionyr to shop around for new opportunities as macrophage-targeting therapies grow in popularity.
Back in 2020, Gilead paid $275m for an equity stake in Pionyr in a bid to build out into the immuno-oncology space. The major agreed to fund Pionyr’s R&D activities in exchange for an exclusive option to acquire the firm that would cost $315m if exercised
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