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Gilead to Acquire Immuno-Oncology Company Forty Seven for $4.9 Billion

March 02, 2020 / Mark Terry
SHARESHARESHARE

Gilead Sciences is buying Forty Seven for $95.50 per share, or a deal value of $4.9 billion. The deal was unanimously approved by both companies’ boards. Gilead picks up Forty Seven’s lead product candidate, magrolimab, a monoclonal antibody in the clinic for several cancers, including myelodysplastic syndrome (MDS), acute myeloid leukemia (AML) and diffuse large B-cell lymphoma (DLBCL). Magrolimab targets CD47. Forty Seven presented positive results from a Phase Ib trial of the drug in MDS and AML at the American Society of Hematology meeting in December 2019. “This agreement builds on Gilead’s presence in immuno-oncology and adds significant potential to our clinical pipeline,” said Daniel O’Day, Gilead’s chairman and chief executive officer. “Magrolimab complements our existing work in hematology, adding a non-cell therapy program that complements Kite’s pipeline of cell therapies for hematological cancers.