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 Commented

Antimony recovery lights up lamp waste recycling

2 October 2015 Research

news image

Green method produces fertiliser as a byproduct

Environmentally-friendly quantum dots make their mark

5 October 2015 Research

news image

Indium phosphide nanoparticles offer non-toxic alternative to cadium for richer, more colourful display screens