Gilead offloads a PhII-ready addiction therapy to an upstart which knows this drug well
Eight years ago, Gilead snapped up CV Therapeutics and its angina drug Ranexa for $1.4 billion, looking to beef up its portfolio of cardio drugs. But one of the assets it picked up, an ALDH-2 inhibitor dubbed GS-6637, never made it far in the clinic.
Tested for drug addiction, it cleared Phase I and sat at the bottom of Gilead’s pipeline for liver disease.
Now, though, a group of those ex-CV execs have come back together to create Amygdalla Neurosciences and went back to Gilead to pick up the asset with plans to get into a Phase II study.
“Completion of this transaction launches Amygdala Neurosciences with a Phase-2 ready asset that we believe has the potential to become a treatment for addiction,” said Peter Strumph, Amygdala’s co-founder and CEO. “In 2017, we look forward to initiating clinical trials for the treatment of both cocaine and alcohol use disorders.”
Strumph is working alongside Ivan Diamond, another CV veteran. He told BioCentury that the Gilead was paid in equity and a set of milestones, though he didn’t specify the dollar amounts.