Gilead Sciences (NASDAQ: GILD) acquires privately-held bio-tech firm Calistoga Pharmaceuticals for $ 375 million. Calistoga stands to earn an additional $ 225 million if certain milestones are achieved. Gilead will consummate the transaction with cash on hand.
Gilead will pick up a stable of cancer fighting compounds, including Calistoga's lead product candidate, CAL-101, a "first-in-class specific inhibitor of the PI3K delta isoform. PI3K delta is preferentially expressed in leukocytes involved in a variety of inflammatory and autoimmune diseases and hematological cancers. CAL-101 is currently in Phase II studies as a single agent in patients with refractory indolent non-Hodgkin's lymphoma (iNHL) and in combination with rituximab in treatment-naïve elderly patients with chronic lymphocytic leukemia (CLL). In addition to CAL-101, Calistoga Pharmaceuticals' product development pipeline includes other selective PI3K inhibitors that are in preclinical development, and may have application in both oncology and inflammatory diseases."
Advisors to the transaction:
"Calistoga Pharmaceuticals' exclusive financial advisor for the transaction was J.P. Morgan Securities LLC while Wilson Sonsini Goodrich & Rosati, P.C. was its legal advisor."
The full press release is: here
Showing posts with label breast cancer. Show all posts
Showing posts with label breast cancer. Show all posts
Wednesday, February 23, 2011
Thursday, February 10, 2011
Report says Pfizer (NYSE: PFE) will pay approx $ 330 million to settle claims related to the Prempro menopause drug.
A report by Bloomberg says Pfizer (NYSE: PFE) will pay approximately $ 330 million to settle claims related to the Prempro menopause drug.
http://www.bloomberg.com/news/2010-08-27/pfizer-settles-arkansas-prempro-case-before-retrial-over-punitive-damages.html
"The drugmaker faced more than 10,000 claims that its menopause drugs caused breast cancer prior the settlements, which were reached during the past five months, the people said. That number included more than 8,000 cases consolidated in federal court in Arkansas and other cases in state courts in Pennsylvania, Nevada and Minnesota."
Pfizer is facing numerous suits claiming that its hormone replacement therapy caused breast cancer.
http://www.bloomberg.com/news/2010-08-27/pfizer-settles-arkansas-prempro-case-before-retrial-over-punitive-damages.html
"The drugmaker faced more than 10,000 claims that its menopause drugs caused breast cancer prior the settlements, which were reached during the past five months, the people said. That number included more than 8,000 cases consolidated in federal court in Arkansas and other cases in state courts in Pennsylvania, Nevada and Minnesota."
Pfizer is facing numerous suits claiming that its hormone replacement therapy caused breast cancer.
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