Pharmaceutical Processing World

  • Home
  • Regulatory
    • Recalls
  • Pharmaceutical Processing
  • Facility
  • Supply Chain
  • Equipment and Materials
  • Contract Manufacturing
  • R&D 100 Awards

Gilead Sciences to Acquire Arresto Biosciences for $225 Million

By Pharmaceutical Processing | December 20, 2010

Gilead Sciences, Inc. and Arresto Biosciences, Inc., a
privately-held, development-stage biotechnology company focused on medicines to
treat fibrotic diseases and cancer, today announced the signing of a definitive
agreement pursuant to which Gilead will
acquire Arresto. Under the terms of the agreement, Gilead
will acquire Arresto for $225 million and potential future payments based on
achievement of certain sales levels. Gilead
anticipates that the deal would close in the first quarter of 2011, subject to satisfaction
of certain closing conditions, and plans to finance the acquisition through
available cash on hand.

Arresto develops medicines that target enzymes involved in
the synthesis of the extracellular matrix, which appear to play a role in the
etiology of a variety of fibrotic diseases and cancer. The company’s lead
product is AB0024, a humanized monoclonal antibody (mAb) targeting the human
lysyl oxidase-like-2 (LOXL2) protein. The company recently initiated a Phase I
study evaluating AB0024 in patients with idiopathic pulmonary fibrosis (IPF). A
Phase I study of AB0024 in patients with advanced solid tumors is also ongoing.

“Arresto’s research and development expertise is well
aligned with Gilead’s areas of focus, including our ongoing clinical program
for ambrisentan in IPF,” said Norbert W. Bischofberger, PhD, Gilead’s Executive Vice President, Research and
Development and Chief Scientific Officer. “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 tumors.”
“Gilead shares Arresto’s vision of
bringing innovative new therapeutic options to patients with unmet medical
needs,” said Peter Van Vlasselaer, PhD, Arresto’s President and Chief
Executive Officer.

“Arresto was founded based on the promise of selective
antibody therapies and I am confident the combined resources of our companies best
position us to build upon our early scientific results.” “Under
Peter’s direction, Arresto has accomplished a remarkable amount in three short
years,” said Beth Seidenberg, MD, Arresto Chairman of the Board, and
Partner at Kleiner Perkins Caufield & Byers. “Peter’s leadership is
extraordinary and proven in several companies. The board is proud of the
accomplishment of the Arresto team and enthusiastic about Gilead’s
commitment to advancing the programs for the treatment of patients with
fibrosis and cancer.”  

Related Articles Read More >

A Zipline fixed-wing drone in the air drops a package
Cardinal Health starts Zipline drone deliveries of drugs and medical supplies
Pfizer logo
Pfizer to spend $120M to make COVID-19 oral treatment in U.S.
Image of MedTrace Pharma's P3 automated delivery system for 15-O water in action
MedTrace Pharma moves forward on 15 O-water imaging tech
coronavirus COVID-19 Pfizer
NIH starts evaluating second COVID-19 booster shots in adults

DeviceTalks Tuesdays

DeviceTalks Tuesdays

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.

Need Pharmaceutical Processing news in a minute?

We Deliver!
Pharmaceutical Processing Enewsletters get you caught up on all the mission critical news you need. Sign up today.
Enews Signup
Pharmaceutical Processing World
  • Subscribe to Our Free E-Newsletter
  • Contact Us
  • About Us
  • Advertise With Us
  • R&D World
  • Drug Delivery Business News
  • Drug Discovery & Development
  • DeviceTalks
  • MassDevice
  • Medical Design & Outsourcing
  • MEDICAL TUBING + EXTRUSION
  • Medical Design Sourcing
  • Medtech100 Index

Copyright © 2022 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search Pharmaceutical Processing World

  • Home
  • Regulatory
    • Recalls
  • Pharmaceutical Processing
  • Facility
  • Supply Chain
  • Equipment and Materials
  • Contract Manufacturing
  • R&D 100 Awards