Gilead Sciences buys EpiTherapeutics for $65 millionStaff writer ▼ | May 7, 2015
Gilead Sciences has acquired EpiTherapeutics for $65 million, subject to certain purchase price adjustments, to be financed through available cash on hand.
Acquisition To be financed through available cash on hand
“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,” said Martin Bonde, PhD, EpiTherapeutics’ Chief Executive Officer.
“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.” ■