Gilead Shells Out $510M For YM BioSciences

Law360, Washington (December 12, 2012, 4:31 PM EST) -- HIV drug giant Gilead Sciences Inc. will purchase fellow biotechnology company YM BioSciences Inc. for $510 million in cash to gain development rights for a promising bone-marrow disorder treatment, the companies said Wednesday.

The companies said the deal, which will pay YM investors $2.95 per share, would give Gilead the rights to YM's lead drug candidate CYT387, an oral treatment for a bone-marrow disorder expected to enter its third clinical testing phase in the second half of 2013. The drug has already shown positive results for...
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