Gilead Sciences to buy Cell Design Labs for $567 million

Cornelia Mascio
Dicembre 8, 2017

Gilead Sciences (NASDAQ:GILD) is acquiring Cell Design Labs, with help from its cell therapy subsidiary Kite Pharma (NASDAQ:KITE), in a deal that could reach $567M.

It is the second move by Gilead in recent months to invest in cutting-edge cancer treatments known as auto T cell therapy. In August, the company announced plans to acquire Santa Monica's Kite Pharma for $12 billion - the largest acquisition since Gilead's 2011 purchase of Pharmasset, which brought two leading hepatitis C drugs into its drug portfolio.

Cell Design's pipeline includes early stage treatments for prostate cancer and a type of blood cancer.

Gilead said it would make an initial upfront payment to Cell Design of about $175 million and additional payments of up to $322 million upon meeting certain milestones. Shares of Gilead rose 0.3% to $72.92 after hours.

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