Big3Deal: Gilead and Nimbus

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Big3Deal: Gilead and Nimbus

SFBay-area based Gilead Sciences has acquired Nimbus Apollo, Inc., a wholly-owned subsidiary of Cambridge, MA-based Nimbus Therapeutics, and its Acetyl-CoA Carboxylase (ACC) inhibitor program to treat nonalcoholic steatohepatitis (NASH) and possibly liver cancer and other diseases.

Coverage of the deal:

  • FierceBiotech: Gilead bags early-stage NASH drug in $1.2B Nimbus deal
    “Gilead is anteing up a $400 million up front payment to gain a Phase I NASH drug from Nimbus Therapeutics, a Bill Gates-backed drug discoverer based in Cambridge, MA. And it’s backing the deal with another $800 million in milestones. Gilead gets Nimbus’s Acetyl-CoA Carboxylase (ACC) inhibitor program in the acquisition of a subsidiary named Nimbus Apollo, which includes the drug NDI-010976. The treatment is being tested in non-alcoholic steatohepatitis and has potential as a therapy for hepatocellular carcinoma as well as other diseases.”
    Full article
  • The Street: Gilead Bolsters Liver Disease Pipeline with Nimbus Drug Purchase
    “Investors have been anxious for Gilead to pull the trigger on an acquisition that can deliver robust earnings growth once the company’s now-dominant hepatitis C business starts to diminish. Monday’s Nimbus purchase may not fit the “transformative” definition just yet but it does underscore Gilead’s commitment to expanding its business into other serious liver diseases.”
    Full summary
  • LifeSciVC: Nimbus Delivers Its Apollo Mission: A $1.2B Gilead Partnership
    “Proceeds from this ACC transaction provide both top-decile venture multiples and significant absolute returns for all Nimbus shareholders. Sharing only the publicly available numbers show that Nimbus has raised ~$70M in venture equity since 2009. The multiple on invested capital in the face of an aggregate deal value of $1.2B is obviously quite attractive. It’s worth noting that although seven years from founding is typical holding period in biotech (here), Nimbus was less than five years from its Series A, and two-thirds of the invested capital was deployed in the last two years – making for a very solid IRR.”
    Full blogpost
  • Gilead Sciences Announces Acquisition of Nimbus Therapeutics’ Acetyl-CoA Carboxlyase (ACC) Program for NASH and Other Liver Diseases
    “The acquisition of Nimbus’ ACC-inhibitor program represents a timely and important opportunity to accelerate Gilead’s ongoing efforts to address unmet needs in NASH,” said Norbert Bischofberger, PhD, Executive Vice President, Research and Development and Chief Scientific Officer, Gilead Sciences. “These molecules will complement and further strengthen Gilead’s pipeline and capabilities to advance a broad clinical program in NASH that includes compounds targeting multiple key pathways involved in the pathogenesis of the disease.”
    Full press release
April 4th, 2016|
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