Gilead Sciences has approached the cancer-focused biotech, Forty Seven, with a takeover deal, says Bloomberg sources.
California-based Forty Seven is a clinical-stage immuno-oncology company focused on developing novel checkpoint therapies to activate macrophages and fight against cancer. The company recently surged on the stock market after investors reacted to positive clinical trial data involving lead cancer immunotherapy, Magrolimab.
According to Bloomberg sources, Gilead and Forty Seven are discussing a range of options including a partnership. Forty Seven has reportedly also received interest from other suitors, but no deal has been finalized.
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