Gilead Calls Forty Seven Buyout Complementary To Kite, Other IO Efforts
Gilead will pay $4.9bn to acquire Forty Seven and its potential first-in-class anti-CD47 agent magrolimab. A fast-track development effort in myelodysplastic syndrome will be the initial focus for that asset.
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Gilead said the FDA requested a partial clinical hold on the studies as well, just over a week after the drug maker said it would not develop the magrolimab further for blood cancers.
While the myelodysplastic syndrome trial news seems unlikely to read through to other programs, MDS may have been the drug’s biggest market.
Glenmark’s innovation subsidiary, Ichnos, highlights encouraging early data for lead bispecific antibody assets and hopes to accelerate these via licensing and partnership deals.The US-based arm also points to the tough biopharma financing market where investors are no longer satisfied with just the “preclinical story”.