India, April 7 -- Gilead Sciences, Inc. (GILD) announced Tuesday it has entered into a definitive agreement to acquire German biotechnology company Tubulis GmbH to build on Gilead's oncology pipeline, focused on addressing areas of high unmet need.
Under the terms of the sale and purchase agreement, Gilead will acquire all of the outstanding equity of Tubulis for $3.15 billion in upfront cash consideration on a cash-free, debt-free basis, subject to customary adjustments, which is payable at closing, and up to $1.85 billion in contingent milestone payments.
The acquisition significantly expands Gilead's Antibody-Drug Conjugate or ADC, capabilities by adding next-generation assets and platforms designed to more selectively deliver diverse ...