Gilead Sciences to Purchase Biologics Process Research and Clinical Manufacturing Facility from Genentech
August 08 2011 - 4:15PM
Business Wire
Gilead Sciences, Inc. (Nasdaq: GILD) today announced that the
company has signed a definitive agreement under which Gilead will
purchase a clinical biologics manufacturing facility and certain
process development assets located in Oceanside, California from
Genentech, a member of the Roche Group (SIX: RO, ROG; OTCQX:
RHHBY). The agreement covers Genentech’s Oceanside Clinical Plant
(OCP), a 70,000 square-foot facility at 4049 Avenida de la Plata,
as well as certain other process development assets. Gilead will
hire certain of Genentech’s biologics manufacturing specialists and
process development scientists familiar with the facilities to
assist with Gilead’s operations. Genentech will continue to operate
and maintain ownership of the Oceanside Commercial Manufacturing
(OCN) facilities at One Antibody Way and other adjacent land.
The companies expect the transaction to close in the third
quarter of this year, subject to satisfaction of certain
conditions. As part of the acquisition, approximately 55 current
Genentech clinical manufacturing and process development employees
will be offered employment at Gilead. All employees joining Gilead
from Genentech will be working in the OCP facility.
The OCP facility is currently designed and equipped to produce
biologic compounds for toxicological, Phase 1 and Phase 2 clinical
studies. Initially, Gilead will use the facility for the process
development and manufacture of GS 6624 (formerly AB0024), an
investigational monoclonal antibody candidate in development for
treatment of certain cancers and for fibrotic diseases, and another
antibody which is currently in preclinical testing.
“This acquisition represents a unique opportunity to establish
Gilead’s biologics process research and manufacturing capability
while bringing on a team of employees with strong expertise in
biologics manufacturing and process development. This will enable
us to accelerate internal biologics research and development
programs and take advantage of external opportunities in the
future,” said Norbert W. Bischofberger, PhD, Gilead’s Executive
Vice President, Research and Development and Chief Scientific
Officer. “We look forward to welcoming our colleagues in Oceanside,
as we seek to advance development of GS 6624 and other novel
therapies for life-threatening diseases with unmet medical
need.”
GS 6624 was discovered by Arresto Biosciences, which was
acquired by Gilead in January 2011.
About Gilead Sciences
Gilead Sciences is a biopharmaceutical company that discovers,
develops and commercializes innovative therapeutics in areas of
unmet medical need. The company's mission is to advance the care of
patients suffering from life-threatening diseases worldwide.
Headquartered in Foster City, California, Gilead has operations in
North America, Europe and Asia Pacific.
This press release includes forward-looking statements, within
the meaning of the Private Securities Litigation Reform Act of
1995, that are subject to risks, uncertainties and other factors,
including the risk that the acquisition will not be consummated in
the currently contemplated timelines or at all as the transaction
is subject to certain closing conditions. In addition, if and when
the transaction is consummated, there will be risks and
uncertainties related to Gilead’s ability to successfully operate
the facility and integrate the prior Genentech employees into
Gilead’s business. Further, Gilead may experience difficulties and
risks related to the manufacture and development of GS 6624 and as
a result, GS 6624 may never be successfully commercialized. These
risks, uncertainties and other factors could cause actual results
to differ materially from those referred to in the forward-looking
statements. The reader is cautioned not to rely on these
forward-looking statements. These and other risks are described in
detail in Gilead's Quarterly Report on Form 10-Q for the quarter
ended March 31, 2011, as filed with the U.S. Securities and
Exchange Commission. All forward-looking statements are based on
information currently available to Gilead, and Gilead assumes no
obligation to update any such forward-looking statements.
For more information on Gilead Sciences, please
visit the company's website at www.gilead.com or call Gilead Public
Affairs at 1-800-GILEAD-5 or 1-650-574-3000.
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