Gilead Sciences (Nasdaq: GILD), a Foster City, CA-based biopharmaceutical company, acquired CymaBay Therapeutics, Inc. (Nasdaq: CBAY), CymaBay Therapeutics, Inc. (NASDAQ: CBAY), a Newark-based biopharmaceutical company focused on innovative therapies for patients with liver and other chronic diseases, for approximately $4.3 Billion in total equity value.
With the acquisitions Gilead Sciences will expand its offerings. The addition of CymaBay’s investigational lead product candidate, seladelpar for the treatment of primary biliary cholangitis (PBC) including pruritus, complements Gilead’s existing liver portfolio and aligns with its commitment to bringing transformational medicines to patients.
CymaBay Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on improving the lives of people with liver and other chronic diseases that have high unmet medical need. Seladelpar is a first-in-class investigational treatment for people with PBC.
Led by CEO Daniel O’Day, Gilead Sciences is a biopharmaceutical company that is committed to advancing medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis, COVID-19, and cancer. It operates in more than 35 countries worldwide.
Commenting on the news, Daniel O’Day said: “I want to thank the CymaBay team for their efforts and commitment to addressing this high unmet need. We look forward to advancing seladelpar and building on Gilead’s more than 20-year legacy of treating and curing liver disease on a global scale.”
FinSMEs
25/03/2024