17 August 2023 - - US-based biopharmaceutical company Gilead Sciences, Inc. (NASDAQ: GILD) and Tentarix Biotherapeutics have established three multi-year collaborations leveraging Tentarix's proprietary Tentacles platform to discover and develop multi-functional, conditional protein therapeutics for oncology and inflammatory diseases, the companies said.

Designed to enhance both therapeutic benefit and safety, these molecules have the potential to conditionally target immune cells related to disease pathways without activating other immune cells that may create adverse events.

Across the three collaborations, Tentarix will receive upfront payments and an equity investment from Gilead totaling USD 66m.

In addition, Gilead has the option to acquire up to three select Tentarix subsidiaries containing the programs developed under the collaborations for USD 80m per subsidiary.

Beginning in the first quarter of 2022, consistent with recent industry communications from the US Securities and Exchange Commission, Gilead no longer excludes acquired IPR&D expenses from its non-GAAP financial measures.

The companies expect the transaction with Tentarix to reduce Gilead's GAAP and non-GAAP 2023 EPS by approximately USD 0.03 – USD 0.04.

Tentarix's mission is to develop first-in-class, targeted, multifunctional, conditional therapies. The company is focused on modalities that have cell specific function and has built a team that aims to transform biologics.

Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people.

The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis, COVID-19, and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California.