(Reuters) – Gilead Sciences said on Tuesday it had entered into an agreement with privately held Tentarix Biotherapeutics to develop therapies for cancer and inflammatory diseases.
Tentarix will receive upfront payments and an equity investment totaling $66 million from Gilead, which has the option to buy three of the drug developer’s units for $80 million each, the companies said.
(Reporting by Mariam Sunny in Bengaluru; Editing by Arun Koyyur)
