Gilead Sciences Buys EpiTherapeutics for $65 Million
Gilead Sciences is poised to enter the fledgling field of epigenetics after signing a definitive deal to purchase Denmark-based EpiTherapeutics for $65 million.
EpiTherapeutics specializes in the development of novel, targeted molecular therapies for a broad range of cancers using environmentally influenced gene expression rather than changes to the original DNA sequence, Gilead said last week.
The acquisition represents an opportunity for Gilead to break ground into what is so far unchartered therapeutic territory. The U.S. biotech giant is widely known for its successful launch of two hepatitis C drugs, Sovaldi (sofosbuvir) and Harvoni (simepriver), which came following its $10.8 billion purchase of New Jersey-based Pharmasset in 2011.
Sovaldi and Harvoni generated worldwide sales of about $4.45 billion in the first quarter of this year. — Jessica Grinspan