Gilead Sciences To Acquire Epi Therapeutics
Gilead Sciences has agreed to acquire EpiTherapeutics ApS, a privately held Danish company, for $65 million, subject to certain purchase price adjustments, to be financed through available cash on hand. EpiTherapeutics has generated a library of selective small molecule inhibitors of epigenetic regulation of gene transcription, in particular histone demethylases. The company's lead pre-clinical compounds are being studied for the treatment of certain cancers.
EpiTherapeutics is developing cancer drugs based on epigenetics, a therapeutic area researched by scientist Professor Kristian Helin and his group at Biotech Research & Innovation Centre (BRIC) at University of Copenhagen. EpiTherapeutics' development programs are focused on enzymes involved in the regulation of transcription in cancer.
Source: Gilead Sciences