Gilead buys EpiTherapeutics for $65 million
pharmafile | May 7, 2015 | News story | Sales and Marketing | EpiTherapeutics, Gilead
Gilead is clearly eyeing a future market involving epigenetics as the US firm buys Danish company EpiTherapeutics for $65 million.
Epigenetics is the study of how environmental influences alter whether particular genes are activated, and in buying the Denmark-based firm Gilead is looking for a foothold towards developing drugs that focus on the enzymes behind the transcription factors in cancer.
“Epigenetics is a promising area of research and the EpiTherapeutics team is a recognised scientific leader in this field,” says Norbert Bischofberger, Gilead’s executive VP of R&D and chief scientific officer.
The agreement to acquire EpiTherapeutics for $65 million Gilead notes, is subject to certain purchase price adjustments and is to be financed through ‘available cash on hand’.
EpiTherapeutics has to date 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 currently being studied for the treatment of certain cancers.
Gilead’s key focus aside from acquisitions is of course its once-daily, oral hepatitis C blockbuster treatment Sovaldi (sofosbuvir), which returned better than expected figures in the first quarter of the year.
It is also of late looking to several new studies to support future new Sovaldi combinations and broadened treatment groups for its key drug.
In the meantime Bischofberger says this latest venture into the world of epigenetics represents a strategic fit with Gilead’s existing portfolio, and that it also includes the potential for novel combination approaches.
“We look forward to working with colleagues from EpiTherapeutics to advance these programmes toward clinical development in diseases with significant unmet medical need,” he concludes.
Martin Bonde who is EpiTherapeutics’ chief executive adds: “EpiTherapeutics has done groundbreaking work in a new therapeutic class of small molecule inhibitors with broad implications across various disease states.
“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.”
Brett Wells
Related Content
Gilead’s HIV treatment meets primary trial endpoint
Gilead has announced positive topline results from its phase 3 ARTISTRY-2 trial, which evaluated a …
Gilead announces first shipments of HIV prevention drug to Eswatini and Zambia
Gilead has announced the first shipments of its HIV prevention drug lenacapavir to Eswatini and …
Gilead shares phase 3 results from HIV prevention trial
Gilead Sciences has announced results from an interim analysis of its pivotal, phase 3 PURPOSE …
