A deal has been made between Gilead Sciences and private biotechnology firm XinThera, whereby Gilead purchase all their remaining shares.

Gilead's current clinical development goals are further strengthened by the purchase as it will involve expanding their current pipeline for cancer and inflammation targeting treatments.

“A deal has been made between Gilead Sciences and private biotechnology firm XinThera to purchase all their remaining shares“

The drug discovery company will now have full legal access to XinThera’s small molecule inhibitors designed for the treatment of various cancer and inflammation related illnesses. They plan to begin clinical trials for these components in the latter part of this year.

Both portfolios could be vital solutions for a variety of conditions and provide wide-ranging development potential when used independently or alongside existing Gilead products.

Executive Vice President at Gilead, Flavius Martin, explained that, “guided by our scientific framework, this acquisition will allow us to further expand our early pipeline of diverse assets that will continue to fuel our durable late-phase portfolio.”

Chief Executive Officer of XinThera, Chris LeMasters, said that they “are eager to explore the potential of our precision medicines as critical components of the next generation of therapies targeting diseases with high unmet need.”

The financial details of the acquisition have not been made public.

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