Gilead Springs Further Into Oncology With Calistoga Acquisition
This article was originally published in The Pink Sheet Daily
Dominant in HIV, the biotech pays $375 million up front for Seattle-based Calistoga and its closely-watched PI3K program.
You may also be interested in...
Using technology spun out of UCSF, a new company hopes to develop oncology drugs that target effector mechanisms of protein synthesis, thereby affecting multiple oncogenes simultaneously. The San Diego-based biotech also hopes to license out its platform for non-cancer indications, bringing in non-dilutive money.
Momentum builds for Pharmacyclics/J&J’s ibrutinib with release of new data at the American Society of Hematology meeting, suggesting the drug has a shot at accelerated approval in sub-populations with high unmet need and potential in a range of B-cell cancers. Profiles of competitors from Gilead and Infinity/Takeda also came into greater focus at ASH.
Gilead will buy the Canadian cancer specialist for $510 million, gaining the lead drug CYT387, a JAK1/JAK2 inhibitor that has demonstrated positive results in myelofibrosis patients.