Fast-grow­ing Gilead buys an R&D cam­pus for $135M — re­port; Eu­re­ka bags $60M round for T cell R&D work

→ Fresh off its deal to ac­quire Kite, the fast-grow­ing biotech Gilead $GILD has just struck a deal to buy the old Agen­sys cam­pus from Astel­las for its new sub­sidiary for $135 mil­lion, ac­cord­ing to a sourced re­port from CoStar. The Kite site in San­ta Mon­i­ca in­cludes a 160,000-square-foot build­ing, which Astel­las shut­tered af­ter de­cid­ing to aban­don the work that it was do­ing there.

→ There’s more bad news com­ing from Te­va’s R&D group $TE­VA to­day. The trou­bled com­pa­ny re­port­ed that its two late-stage stud­ies of the sub­cu­ta­neous ver­sions of Cinqair (reslizum­ab) for se­vere eosinophilic asth­ma failed. The IV ver­sion has been on the mar­ket for two years, with an­a­lysts pro­ject­ing on­ly $30 mil­lion in 2017 rev­enue. “(T)he fail­ure of this study re­moves a po­ten­tial up­side dri­ver for Te­va and this puts down­side pres­sure on the stock,” not­ed Leerink. “The key brand­ed pipeline con­trib­u­tors, in our view, are still Auste­do (deutetra­benazine, for tar­dive dysk­i­ne­sia and chorea as­so­ci­at­ed with Hunt­ing­ton’s dis­ease) and fre­manezum­ab (cal­ci­tonin gene–re­lat­ed pep­tide mAb, for the pre­ven­ta­tive treat­ment of mi­graines), which we as­sume each can grow to >$500M in rev­enues by 2022.”

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