Ropes & Gray advised Gilead Sciences Inc. in its exclusive option to acquire Tizona Therapeutics, Inc., consisting of a first-step acquisition of a 49.9% interest in Tizona Therapeutics, Inc. for $300 million, and an exclusive option to acquire the remainder of Tizona for up to an additional $1.25 billion, including an option exercise fee and potential future milestone payments. The transaction was announced on July 21. The press release is here.
Gilead Sciences, Inc. is a research-based biopharmaceutical company that discovers, develops and commercializes innovative medicines in areas of unmet medical need. Tizona is a privately held, clinical-stage immunotherapy company that develops first-in-class medicines to deliver transformational benefits for people with cancer.
The Ropes & Gray team that represented Gilead was led by mergers & acquisitions associate Sarah Young (New York),intellectual property transactionspartner Megan Baca (Silicon Valley) and intellectual property transactions partner Amanda Austin (Boston), and included tax partners Benjamin Rogers (San Francisco) and Andrew Howard (London), life sciences regulatory & compliance partner Kellie Combs (Washington D.C.), health care partner Deborah Gersh (Chicago) and executive compensation & benefits counsel Ellen Sueda (San Francisco), as well as private equity associate Frederick Walton Dumas (San Francisco).
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