Skadden, Cooley Guide $4.9B Deal For Cancer Drugmaker
Law360 (March 2, 2020, 10:12 AM EST) — Biopharmaceutical giant Gilead Sciences Inc. has agreed to buy cancer-focused biotechnology firm Forty Seven Inc. for about $4.9 billion, the companies said Monday, in a deal stitched together with help from Skadden and Cooley.
The transaction combines two California-based companies, and adds to Gilead’s portfolio a company in Forty Seven that has multiple cancer treatments in development, according to a statement. The company’s lead product candidate, magrolimab, is in clinical development and is meant to treat multiple types of cancer, including myelodysplastic syndrome, or MDS, acute myeloid Leukemia, or AML, and diffuse large B-cell lymphoma, or DLBCL.
“This agreement builds on…