Gilead, Tentarix Establish Multi-year Collaborations To Discover Protein Therapeutics

(RTTNews) - Gilead Sciences, Inc. (GILD) and Tentarix Biotherapeutics established three multi-year collaborations leveraging Tentarix's Tentacles platform to discover and develop multi-functional, conditional protein therapeutics for oncology and inflammatory diseases. Across the three collaborations, Tentarix will receive upfront payments and an equity investment from Gilead totaling $66 million. Also, Gilead has the option to acquire up to three select Tentarix subsidiaries containing the programs developed under the collaborations for $80 million per subsidiary.

Gilead Sciences expects the transaction with Tentarix to reduce Gilead's GAAP and non-GAAP 2023 EPS by approximately $0.03 - $0.04.

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