Gilead Sciences will invest $275m for a 49.9% stake in the UofT and UCSF-linked company as part of a $1.47bn deal to potentially purchase Pionyr outright.

Pionyr Immunotherapies, a US-based immuno-oncology developer commercialising research from University of Toronto (UofT) and University of California, San Francisco (UCSF) secured a $275m commitment from biopharmaceutical firm Gilead Sciences on Tuesday. Gilead will acquire a 49.9% in Pionyr through the deal, which forms part of a larger agreement worth up to $1.47bn that gives the…

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