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Home Industry News Gilead Sciences agrees Arresto Biosciences takeover

Gilead Sciences agrees Arresto Biosciences takeover

21st December 2010

Gilead Sciences has confirmed that it will be purchasing Arresto Biosciences, a privately-held company that specialises in fibrotic disease and cancer treatments.

The firms have signed a definitive agreement that will see Gilead pay $225 million (145.2 million pounds) to take control of the company, with the transaction expected to close during the first quarter of 2011.

Arresto's product portfolio focuses on treatments that target enzymes involved in the synthesis of the extracellular matrix, with its leading compound AB0024 having recently completed initiation of a phase I study in the area of idiopathic pulmonary fibrosis.

Dr Norbert Bischofberger, Gilead's executive vice-president of research and development and chief scientific officer, said Arresto shares Gilead's aims of developing new treatments to address unmet medical needs.

He added: "We look forward to working with the team from Arresto to advance the development of novel therapies for serious fibrotic diseases and explore their potential for the treatment of tumours."

Last month, Gilead published new data from a phase III clinical trial of the drug Viread, showing the long-term efficacy of the hepatitis B treatment.ADNFCR-8000103-ID-800303473-ADNFCR

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