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Gilead to acquire Arresto Bioscences

Gilead will acquire Arresto Biosciences for $225m plus potential future payments based on sales levels

Gilead will acquire Arresto Biosciences for $225m plus potential future payments based on sales levels.

Arresto Viosciences is a privately held development-stage technology company focused on medicines to treat fibrotic diseases and cancer. The agreement will provide Gilead with access to Arresto's lead product, AB0024, a monoclonal antibody in phase I trials for the treatment of cancer and idiopathic pulmonary fibrosis. Gilead has a treatment called ambristentan for the same lung disease.

Norbert W Bischofberger, Gilead's executive vice president and chief scientific officer said: "Arresto's research and development expertise is well aligned with Gilead's areas of focus, including our ongoing clinical programme for ambrisentan in IPF. We look forward to working with the team from Arresto to advance the development of novel therapies for serious fibrotic diseases and explore their potential for the treatment of tumours."

Gilead anticipates the deal will close in the first quarter of 2011, subject to satisfaction of certain closing conditions and plans to finance the cash acquisition.

21st December 2010

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