CGI Pharmaceuticals, who specialise in small molecule chemistry and kinase biology, have developed a range of small molecule kinase inhibitors. The inhibitors are believed to have the potential to treat conditions such as rheumatoid arthritis.
The takeover, which is said to be completely in the third quarter of 2010, will cost Gilead Sciences a total of £79.7m.
Speaking of the acquisition, Gilead’s executive vice-president of R&D and CEO stated, “The acquisition of CGI represents a unique opportunity to expand our research efforts in an interesting and promising area of drug discovery.”
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