Ropes & Gray Represents Gilead Sciences in its Exclusive Option to Acquire Pionyr Immunotherapeutics consisting of the acquisition by Gilead of a 49.9% equity interest for $275 million, an Option for Gilead to Acquire the Remaining equity interests for $315 million, and up to $1.15 billion of Potential Future Milestone Payments to Pionyr equityholders
Ropes & Gray represented Gilead Sciences, Inc. in its exclusive option to acquire Pionyr Immunotherapeutics Inc., a privately held company developing cancer immunotherapies. The transaction consists of the acquisition by Gilead of a 49.9% equity interest in Pionyr for $275 million, an option of Gilead to acquire the remaining equity interests of Pionyr for $315 million, and up to $1.15 billion of potential future milestone payments for Pionyr equityholders.
The transaction was announced on June 23. The press release is here.
Gilead is a research-based biopharmaceutical company which discovers, develops and commercializes innovative medicines in areas of unmet medical need. The company strives to transform and simplify care for people around the world with life-threatening illnesses. Gilead has operations in more than 35 countries.
The Ropes & Gray team that represented Gilead was led by mergers & acquisitions partner Paul Scrivano (Silicon Valley/New York), mergers & acquisitions associate Sarah Young (New York) and intellectual property transactions partners Megan Baca (Silicon Valley) and Amanda Austin (Boston). The Ropes & Gray team also included tax partner Benjamin Rogers (San Francisco), life sciences, regulatory & compliance partner Kellie Combs (Washington D.C.), health care partner Deborah Gersh (Chicago), executive compensation & benefits counsel Ellen Sueda (San Francisco), employment, executive compensation & benefits partner Renata Ferrari (Boston) and IP litigation partner Filko Prugo (New York) and private equity associate Frederick Walton Dumas (San Francisco).