Gilead to buy Nimbus Therapeutics’ unit, trial drug for up to $1.2 billion
pharmafile | April 5, 2016 | News story | Manufacturing and Production, Research and Development, Sales and Marketing | Gilead Sciences, M&A, MA, Nimbus Apollo, Nimbus Therapeutics, merger and acquisitions
Gilead Sciences (Nasdaq: GILD) has agreed to buy a unit of biotechnology firm Nimbus Therapeutics and its trial drug to treat a metabolic condition that leads to fat accumulation in the liver for up to $1.2 billion.
Norbert Bischofberger, PhD, Executive Vice President, Research and Development and Chief Scientific Officer, Gilead Sciences, says: “The acquisition of Nimbus’ ACC-inhibitor program represents a timely and important opportunity to accelerate Gilead’s ongoing efforts to address unmet needs in NASH. These molecules will complement and further strengthen Gilead’s pipeline and capabilities to advance a broad clinical program in NASH that includes compounds targeting multiple key pathways involved in the pathogenesis of the disease.”
The deal includes an upfront payment of $400 million, with the potential development-related milestones of up to $800 million for the unit Nimbus Apollo.
The US food and Drug Administration in February awarded fast-track designation to the drug candidate NDI-010976, which will speed up the process of regulatory review and approval. The drug blocks two forms of an enzyme, acetyl CoA carboxylase or ACC, involved in making fatty acids and regulating the breakdown of fatty acids in cells.
Don Nicholson, chief executive officer of Nimbus Therapeutics, says: “Given the company’s long-standing commitment to and expertise in liver disease, we are confident that Gilead is the ideal partner to accelerate and maximize the potential of the ACC inhibitor program. This agreement underscores Nimbus’ ability to rapidly discover, design and optimize promising therapeutics in areas of unmet need, an approach we will continue to apply against other medically important targets.”
Nimbus Apollo will become a fully owned unit of Gilead following deal completion and will get exclusive rights to develop and commercialise NDI-010976 and the other ACC inhibitors in the programme.
The deal is expected to close in the second quarter.
Privately held Nimbus is focussed on metabolic disorders, cancer and immune-inflammatory disorders, which have related mechanisms.
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