Date: 2016-04-04
Type of information: Company acquisition
Acquired company: Nimbus Apollo (USA - MA)
Acquiring company: Gilead Sciences (USA - CA)
Amount: up to 1.2 billion
Terms:
- • On November 1, 2016, Nimbus Therapeutics announced that it has received a $200 million milestone payment from Gilead Sciences, related to Gilead’s allosteric Acetyl-CoA Carboxylase (ACC) inhibitor program with NDI-010976 (now GS-0976) previously acquired from Nimbus. Last April, the companies announced an upfront payment from Gilead of $400 million for the acquisition of Nimbus Apollo. This milestone represents the first of those additional payments. Nimbus has now received half of the total potential deal value within six months of the acquisition being completed.
- • On May 17, 2016, Nimbus Therapeutics announced the recent closing of Gilead Sciences’s acquisition of its wholly-owned subsidiary Nimbus Apollo and its Acetyl-CoA Carboxylase (ACC) inhibitor program. The acquisition’s completion triggered a $400 million upfront payment to Nimbus from Gilead. Per the agreement between the two companies, Nimbus has the potential to receive an additional $800 million in development-related milestones from Gilead over time. With the completion of the acquisition, Nimbus Apollo is now a wholly-owned subsidiary of Gilead, and Gilead has assumed sole responsibility for future development and commercialization of NDI-010976 and other ACC inhibitors.
- • On April 4, 2016, Gilead Sciences announced that the companies have signed a definitive agreement under which Gilead will acquire Nimbus Apollo, a wholly-owned subsidiary of Nimbus Therapeutics, and its Acetyl-CoA Carboxylase (ACC) inhibitor program. Nimbus Therapeutics will receive an upfront payment of $400 million, with the potential to receive an additional $800 million in development-related milestones over time. Upon completion of the acquisition, Nimbus Apollo will become a wholly-owned subsidiary of Gilead. Nimbus Therapeutics will retain ownership of its other research and development subsidiaries. Gilead will be solely responsible for future development and commercialization of NDI-010976 and other ACC inhibitors.
Details:
- Nimbus Therapeutics is a biotechnology company pioneering the application of computational chemistry to design treatments for substantial and underserved human diseases. The company’s focus on metabolic diseases, cancer and immune-inflammatory disorders reflects the mechanistic relationship between these disorders. Nimbus Therapeutics is structured as a series of independent C corporations, each of which houses distinct research and development programs focused on a highly desirable, yet previously intractable disease target. The Nimbus Apollo program includes the lead candidate NDI-010976, an acetylCoA carboxylase (ACC) inhibitor, and other preclinical ACC inhibitors for the treatment of non-alcoholic steatohepatitis (NASH), and for the potential treatment of hepatocellular carcinoma (HCC) and other diseases. ACC is involved in de novo lipogenesis and regulation of beta-oxidation. Inhibitors of ACC therefore have the potential to prevent production of new lipids within the liver and stimulate their breakdown. In animal models of fatty liver, ACC inhibition reduces hepatic fat content, inflammation and fibrosis (scarring), all of which are important hallmarks of NASH progression. NDI-010976 was granted Fast Track designation by the FDA in February 2016.
Related: Liver diseases - Hepatic diseases - Cancer - Oncology
Is general: Yes
