Gilead Sciences Acquires EpiTherapeutics
May 06 2015 - 8:30AM
Business Wire
-- Deal Adds Small Molecule Inhibitors
against Targets Involved in Epigenetic Regulation --
Gilead Sciences, Inc. (NASDAQ:GILD) and EpiTherapeutics ApS, a
privately-held Danish company, announced the signing of a
definitive agreement pursuant to which Gilead has acquired
EpiTherapeutics for $65 million, subject to certain purchase price
adjustments, to be financed through available cash on hand.
EpiTherapeutics has generated a library of first-in-class,
selective small molecule inhibitors of epigenetic regulation of
gene transcription, in particular histone demethylases. The
company’s lead pre-clinical compounds are being studied for the
treatment of certain cancers.
“Epigenetics is a promising area of research and the
EpiTherapeutics team is a recognized scientific leader in this
field,” said Norbert Bischofberger, PhD, Gilead’s Executive Vice
President, Research and Development and Chief Scientific Officer.
“This therapeutic class represents a strategic fit with our
existing research portfolio, including the potential for novel
combination approaches. We look forward to working with colleagues
from EpiTherapeutics to advance these programs toward clinical
development in diseases with significant unmet medical need.”
“EpiTherapeutics has done groundbreaking work in a new
therapeutic class of small molecule inhibitors with broad
implications across various disease states,” said Martin Bonde,
PhD, EpiTherapeutics’ Chief Executive Officer. “We are confident
that with Gilead’s acquisition of the company, our discoveries will
have the best chance to be developed into therapies that will
benefit patients.”
Investors in EpiTherapeutics are NOVO Seeds, SEED Capital,
Lundbeckfond Emerge, MS Ventures and Astellas Venture. Back Bay
Life Science Advisors of Boston advised EpiTherapeutics on the
transaction.
About EpiTherapeutics
EpiTherapeutics is developing novel innovative cancer drugs
based on epigenetics, a therapeutic area researched by renowned
scientist Professor Kristian Helin and his group at Biotech
Research & Innovation Centre (BRIC) at University of
Copenhagen. EpiTherapeutics’ development programs are focused on
enzymes involved in the regulation of transcription in cancer. For
more information, please visit: www.epitherapeutics.com.
About Gilead Sciences
Gilead Sciences is a biopharmaceutical company that discovers,
develops and commercializes innovative therapeutics in areas of
unmet medical need. The company’s mission is to advance the care of
patients suffering from life-threatening diseases. Gilead has
operations in more than 30 countries worldwide, with headquarters
in Foster City, California.
Forward-Looking
Statement
This press release includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that are subject to risks, uncertainties and other factors,
including the risk that Gilead may be unable to advance
EpiTherapeutics’ research programs. These risks, uncertainties and
other factors could cause actual results to differ materially from
those referred to in the forward-looking statements. The reader is
cautioned not to rely on these forward-looking statements. These
and other risks are described in detail in Gilead's Annual Report
on Form 10-K for the year ended December 31, 2014, as filed with
the U.S. Securities and Exchange Commission. All forward-looking
statements are based on information currently available to Gilead,
and Gilead assumes no obligation to update any such forward-looking
statement.
For more information on Gilead Sciences,
please visit the company’s website at www.gilead.com, follow
Gilead on Twitter (@GileadSciences) or call Gilead Public Affairs
at 1-800-GILEAD-5 or 1-650-574-3000.
Gilead Sciences, Inc.Patrick O'Brien, Investors,
650-522-1936Nathan Kaiser, Media, 650-522-1853
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