Gilead Sciences, Inc., has acquired EpiTherapeutics ApS for $65 million, subject to certain purchase price adjustments, to be financed through available cash on hand, according to FierceBiotech.
EpiTherapeutics has a library of small molecule inhibitors of epigenetic regulation of gene transcription, in particular histone demethylases. The company’s lead pre-clinical compounds are being evaluated 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,” adds Martin Bonde, PhD, EpiTherapeutics’ CEO. “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 include NOVO Seeds, SEED Capital, Lundbeckfond Emerge, MS Ventures and Astellas Venture. Back Bay Life Science Advisors of Boston advised EpiTherapeutics on the transaction.
Source: FierceBiotech
