Gilead offloads myelofibrosis drug

23 August 2018

Gilead Sciences (Nasdaq: GILD) has sold off a drug once predicted to be a significant player in the myelofibrosis market.

The US biotech giant has sold momelotinib to Canadian company Sierra Oncology (Nasdaq: SRRA) in a deal that includes an upfront fee of $3 million and potential milestone payments that could reach up to $195 million.

Gilead acquired the asset in late 2012 in its $510 million deal to buy YM Biosciences and took it into Phase III trials, but these delivered mixed results.

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