Gilead Sciences, headquartered in Foster City, Calif., has acquired EpiTherapeutics, 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 first-in-class, selective small molecule inhibitors of epigenetic regulation of gene transcription, in particular histone demethylases. The company’s lead preclinical compounds are being studied for the treatment of certain cancers.
“Epigenetics is a promising area of research and the EpiTherapeutics team is a recognized scientific leader in this field,” said Norbert Bischofberger, Ph.D., Gilead’s executive vice president, R&D and chief scientific officer. “This therapeutic class represents a strategic fit with our existing research portfolio, including the potential for novel combination approaches. We look forward to working with colleagues from EpiTherapeutics to advance these programs toward clinical development in diseases with significant unmet medical need.”
“EpiTherapeutics has done groundbreaking work in a new therapeutic class of small molecule inhibitors with broad implications across various disease states,” said Martin Bonde, Ph.D., EpiTherapeutics’ CEO. “We are confident that with Gilead’s acquisition of the company, our discoveries will have the best chance to be developed into therapies that will benefit patients.”