Gilead buys YM for $510m


US pharma company Gilead is to buy YM BioSciences, a drug discovery firm based in Ontario, Canada, for $510 million (£310 million).

The lead drug candidate at YM is CYT387, a selective inhibitor of the Janus kinase (JAK) enzymes, which are thought to be involved in several of disorders, including myeloproliferative diseases, inflammatory disorders and certain types of cancer.

Gilead is planning a Phase III trial of CYT387 against myelofibrosis in the second half of 2013.

YM gained CYT387 when it bought Australian biotech Cytopia in 2009.


Related Content

Myelofibrosis drug approved in EU

28 August 2012 Business

news image

Jakavi (ruxolitinib) tablets are for the treatment of myelofibrosis, a rare disease affecting the bone marrow

Business roundup

22 December 2011 Business

news image

Industry news, January 2012

Most Read

Not all science is created equal

16 October 2014 Comments

news image

John Ioannidis explains why researchers should be curious about the differences between disciplines

MDMA

9 October 2014 Podcast | Compounds

news image

The drug that fuelled rave culture may yet be a treatment for PTSD. Hayley Simon introduces MDMA

Most Commented

Helium happily shares electrons to create dianions

16 October 2014 Research

news image

Fullerene dianions created in nanodroplets of helium opening up new ways of creating exotic molecular species

Not all science is created equal

16 October 2014 Comments

news image

John Ioannidis explains why researchers should be curious about the differences between disciplines