Gilead Sciences announces takeover of EpiTherapeutics

Gilead Sciences has announced the acquisition of EpiTherapeutics, a developer of innovative cancer drugs based on the emerging principle of epigenetics.

EpiTherapeutics' development programmes are focused on enzymes involved in the regulation of transcription in cancer, with its lead preclinical compounds currently being studied for the treatment of several cancer types.

The $65 million (42.71 million pounds) deal will give Gilead access to a library of first-in-class selective small molecule inhibitors of epigenetic regulation of gene transcription, in particular histone demethylase.

Gilead believes the acquisition represents a good strategic fit with its existing research efforts and will give it the opportunity to pursue novel combination therapy approaches.

Dr Norbert Bischofberger, Gilead's executive vice-president for research and development and chief scientific officer, said: "We look forward to working with colleagues from EpiTherapeutics to advance these programmes toward clinical development in diseases with significant unmet medical need."

During the first quarter of 2015, Gilead generated a revenue total of $7.6 billion – up from $5.0 billion during the corresponding period of 2014.