June 23, 2020 / 12:47 PM / 11 days ago

Gilead to buy 49.9% stake in cancer drug developer Pionyr for $275 mln

June 23 (Reuters) - Gilead Sciences Inc said on Tuesday it would buy a 49.9% stake in privately held cancer immunotherapies developer Pionyr Immunotherapeutics Inc for $275 million.

The drugmaker said it has also secured the right to acquire remainder of Pionyr for a $315 million option exercise fee. (Reporting by Manojna Maddipatla in Bengaluru)

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