Gilead Acquires Nimbus' Biotech Drugs for NASH Treatment

Source: www.bloomberg.com

Apr 12, 2016

Gilead Sciences announced it has acquired Nimbus Therapeutics' Nimbus Apollo division, a line of biotech drugs in a deal potentially worth $1.2 billion, according to Bloomberg.

With the purchase of  the drug line, the biotechnology giant is expanding its development portfolio of treatments for the fatty liver disease known as non-alcoholic steatohepatitis, or NASH. Gilead acquired the Nimbus Apollo division for $400 million upfront, plus up to $800 million if Nimbus’ drugs successfully make it through the development process.

The drug line consists of an acetyl-CoA carboxylase (ACC) inhibitor called NDI-010976.

“These molecules will complement and further strengthen Gilead’s pipeline and capabilities to advance a broad clinical program in NASH,” Norbert Bischofberger, Gilead’s chief scientific officer, said in a statement announcing the deal.

Phase-one trial results for NDI-010976 are due to be presented in a couple of weeks at the annual International Liver Congress.

Click here to read the full report from Bloomberg.