Calistoga Pharmaceuticals worth up to $600m after less than $100m of backing from a consortium including Amgen Ventures.
Gilead Sciences, a Nasdaq-listed drugs company, has agreed to buy US-based cancer-fighting peer Calistoga Pharmaceuticals for $375m in cash initially and up to $225m in performance fees.
Norbert Bischofberger, Gilead’s chief scientific officer, said: "Oncology remains an area of significant unmet medical need and our increased understanding of the genetic basis of cancer allows for the development of disease specific targeted therapies.
"Building on the recent acquisitions of CGI Pharmaceuticals and Arresto Biosciences, this acquisition serves to further broaden…
