Gilead partners with Tentarix to create new therapies for cancer and inflammatory diseases. The US biotech company will enter into three multi-year collaboration agreements centered on the Tenacles platform, from Tentarix, to discover and develop therapies for oncology and inflammatory diseases.
“This early-stage collaboration with Tentarix will be highly synergistic to our current efforts, build on our growing strength in protein therapy, and may provide access to multi-species biologics from Gilead Sciences,” said Flavius Martin, Executive Vice President of Research at Gilead Sciences. Next Generation.
Tentarix will receive advance payments and an equity investment from Gilead of $66 million. In addition, the US biotech company has the option to acquire a total of, at most, three selected Tentarix subsidiaries containing the programs developed under the collaborations for $80 million.
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Gilead will make advance payments and equity investment to Tentarix for $66 million
Paul Grayson, President and CEO of Tentarix Therapeutics, explains that “collaboration with Gilead to build and expand the development of multifunctional antibody-based therapeutics, providing an excellent mechanism to validate our science with the ultimate goal of bringing these potential drugs to the patients faster.
Tentarix was created in 2021, following a $50 million funding round to support its Tenacles drug platform. This platform is based on protein therapies that target multiple specific proteins on the surface of cells, but are only active when all are present.
Gilead said that it expects the agreement with Tentarix to reduce its earnings per share (EPS) from 3 to 4 cents in 2023. In addition, the US biotech company aims to generate at least a third of its revenue by 2030, through this alliance.
Gilead Sciences had $6.4 billion in revenue in the first quarter of 2023, a 4% year-over-year decrease from the same period a year earlier. The company attributed the decline to declining sales of remdesivir, marketed under the name Veklury, which is a solution for the treatment of Covid-19.
Founded in 1987, Gilead is an American company specializing in the research and commercialization of pharmaceuticals. Its headquarters are located in Foster City, California, and it operates throughout North America, Europe, and Australia.
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