Gilead Sciences, Inc. (GILD) has announced that it will be acquiring Nimbus Therapeutics’ Nimbus Apollo, Inc. subsidiary for up to $1.2 billion.
Gilead Sciences will be paying $400 million to Nimbus Therapeutics from the get go and there’s another possible $800 million up for grabs if Nimbus Apollo meets development milestones over time. Nimbus Therapeutics will continue to own and operate its other research subsidiaries.
The acquisition of Nimbus Apollo will give Gilead Sciences access to NDI-010976, which is an ACC inhibitor designed to treat non-alcoholic steatohepatitis and possibly hepatocellular carcinoma. It was given Fast Track approval by the U.S. Food and Drug Administration in February.
“These molecules will complement and further strengthen Gilead’s pipeline and capabilities to advance a broad clinical program in NASH that includes compounds targeting multiple key pathways involved in the pathogenesis of the disease,” Norbert Bischofberger, Executive Vice President of Gilead Sciences, said in a statement.
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