Issue Date: January 3, 2011
Gilead Buys Arresto For $225 Million
Gilead Sciences will acquire Arresto Biosciences, a development-stage biotech company in Palo Alto, Calif., that focuses on fibrotic diseases and cancer. Gilead will pay $225 million and make unspecified future payments based on sales achievements. Arresto’s lead drug candidate, the monoclonal antibody AB0024, is in Phase I trials for the treatment of idiopathic pulmonary fibrosis (IPF) and advanced solid tumors. The acquisition is the first foray for Gilead, historically focused on small molecules, into the development of monoclonal antibodies.
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