Remember momelotinib? Gilead unloads shelved JAK inhibitor for token $3M payment from its former developers
About 6 years ago, Gilead $GILD paid $510 million in cash to bag YM BioSciences and its only drug — a once-promising JAK inhibitor later named momelotinib for myelofibrosis. The drug, however, turned out to be an embarrassing dud in the clinic, and now the big biotech is sweeping it out in a low-dollar deal with Sierra Oncology — which is run by the people who may know this drug best.
Sierra has agreed to pay Gilead only $3 million in cash for the asset, and they plan to push it into a new late-stage study to get the data they need. That will come on top of two disappointing pivotal trials at Gilead that read out in late 2016.
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