Gilead Sciences to Buy Private Biotech XinThera
May 09 2023 - 9:14AM
Dow Jones News
By Colin Kellaher
Gilead Sciences on Tuesday said it is bolstering its early
pipeline in oncology and inflammation through the acquisition of
privately held biotech company XinThera.
Foster City, Calif., biopharmaceutical company Gilead didn't
disclose terms of the acquisition, but said it expected the deal to
reduce earnings this year by 12 cents to 15 cents a share.
Gilead said it is gaining the rights to a portfolio of small
molecule inhibitors targeting the PARP1 enzyme for oncology and the
MK2 enzyme for inflammatory diseases that could enter clinical
trials later this year.
Gilead said both programs have the potential to address multiple
indications, offering development opportunities alone and in
combination with its current portfolio.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 09, 2023 08:59 ET (12:59 GMT)
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