Gilead and Tentarix to Discover and Develop Novel Therapies to Address Unmet Medical Needs Across Cancer and Inflammation
- Gilead's collaboration with Tentarix will enhance its research strategy in addressing immune dysregulation in oncology and inflammatory diseases, potentially leading to the development of next-generation, multi-specific biologics. The collaboration also provides an opportunity for Gilead to validate its science and bring potential medicines to patients faster. Gilead's upfront payments and equity investment totaling $66 million demonstrate a strong commitment to advancing the development of novel therapies.
- The potential negative impact on Gilead's GAAP and non-GAAP 2023 EPS by approximately $0.03 - $0.04 could be a concern for investors, although the long-term benefits of the collaboration may outweigh this short-term impact.
– Collaboration Combines Gilead’s Oncology and Inflammation Expertise and Tentarix’s Tentacles™ Platform –
– Gilead Receives Exclusive Rights to Acquire Novel Therapies From this Collaboration –
“At Gilead, a key area of our research strategy is addressing immune dysregulation in oncology and inflammatory diseases,” said Flavius Martin, M.D., Executive Vice President, Research, Gilead Sciences. “This early-stage collaboration with Tentarix will be highly synergistic to our ongoing efforts, building upon our growing strength in protein therapeutics, and may provide access to next-generation, multi-specific biologics.”
“This collaboration is part of our strategy to join forces with innovators, like Gilead, who can help us rapidly advance new medicines to the clinic,” said Paul Grayson, President and CEO of Tentarix Biotherapeutics. “Our technology has great promise and collaborating with Gilead to build out this pipeline helps broaden the development of multi-functional, antibody-based therapeutics, providing an excellent mechanism to validate our science with the ultimate goal of bringing these potential medicines to patients faster.”
Across the three collaborations, Tentarix will receive upfront payments and an equity investment from Gilead totaling
Beginning in the first quarter of 2022, consistent with recent industry communications from the
About Tentarix
Tentarix’s mission is to develop first-in-class, targeted, multifunctional, conditional therapies. The Company is focused on modalities that have cell specific function and has built a team that aims to transform biologics. For more information, please visit www.tentarix.com.
About Gilead Sciences
Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis, COVID-19, and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in
Gilead Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including Gilead’s ability to realize the anticipated benefits from the collaborations; difficulties or unanticipated expenses in connection with the collaborations and the potential effects on Gilead’s earnings; the ability of the parties to initiate, progress or complete clinical trials within currently anticipated timelines or at all, and the possibility of unfavorable results from ongoing or additional trials, including those developed pursuant to the collaborations; the ability of the parties to file applications for regulatory approval or receive regulatory approvals in a timely manner or at all for the investigational therapeutics developed pursuant to the collaborations, and the risk that any such approvals may be subject to significant limitations on use; the possibility that the parties may make a strategic decision to discontinue development of any of the investigational therapeutics developed pursuant to the collaborations, and therefore these therapeutics may never be successfully commercialized; and any assumptions underlying any of the foregoing. These and other risks, uncertainties and other factors are described in detail in Gilead’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, as filed with the
Gilead and the Gilead logo are trademarks of Gilead Sciences, Inc., or its related companies. The Tentarix name and logo are trademarks of Tentarix Biotherapeutics.
For more information about Gilead, please visit the company’s website at www.gilead.com, follow Gilead on Twitter (@GileadSciences) or call Gilead Public Affairs at 1-800-GILEAD-5 or 1-650-574-3000.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230814981551/en/
Gilead Contacts:
Jacquie Ross, Investors
Investor_Relations@Gilead.com
Ashleigh Koss, Media
Public_Affairs@Gilead.com
Tentarix Contact:
Brady Johnson
IR@Tentarix.com
Source: Gilead Sciences, Inc.
FAQ
What is the collaboration between Gilead Sciences and Tentarix Biotherapeutics about?
What are the potential benefits of the collaboration for Gilead Sciences?
What financial commitments are involved in the collaboration?
What is the potential impact on Gilead's EPS in 2023?
