Gilead and Tentarix partner to develop protein therapeutics
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Gilead Sciences (NASDAQ:GILD) and San Diego, California-based biotech Tentarix Biotherapeutics announced a partnership on Tuesday to develop protein therapeutics for conditions related to cancer and inflammation.
Accordingly, under three multi-year collaborations, Tentarixâs proprietary Tentacles platform will be used to develop conditional protein therapeutics.
The compounds are designed to specifically target disease-causing immune cells without any impact on other immune cells that can lead to adverse events, the companies said.
Per the terms, Tentarix is entitled to upfront payments and an equity investment worth $66M in total from Gilead (GILD). In addition, the company will have the option to sell up to three subsidiaries holding assets developed under the partnership for $80M each.
The transaction is expected to reduce GILDâs GAAP and non-GAAP earnings per share by $0.03â0.04 in 2023.
The early-stage partnership will bring synergistic effects to the companyâs development programs targeted at protein therapeutics, Gileadâs (GILD) Executive Vice President for Research, Flavius Martin, said.

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