image credit: Pexels

Gilead to Acquire Forty Seven for $4.9B, Expanding Immuno-Oncology Pipeline

Gilead Sciences has agreed to acquire Forty Seven for $4.9 billion cash, the companies said today, in a deal intended to boost the buyer’s immuno-oncology R&D pipeline—anchored by Forty Seven’s lead candidate magrolimab, which generated positive Phase Ib results nearly three months ago.

Magrolimab (formerly 5F9) is a monoclonal antibody being developed to treat several blood cancers, including myelodysplastic syndrome (MDS), acute myeloid leukemia (AML) and diffuse large B-cell lymphoma (DLBCL).

Read More on Genetic Engineering and Biotechnology News