Gilead Sciences, Inc. (Nasdaq: GILD) acquired MYR GmbH, a Bad Homburg, Germany-based biotechnology company focused on the development and commercialization of therapeutics for the treatment of chronic hepatitis delta virus (HDV), for approximately €1.15 billion.
The amount was paid in cash, payable upon closing of the transaction plus a potential future milestone payment of up to €300m (both payments subject to customary adjustments).
The acquisition will provide Gilead with Hepcludex™ (bulevirtide), which was conditionally approved by the European Medicines Agency (EMA) for the treatment of chronic HDV infection in adults with compensated liver disease in July 2020. MYR has since launched Hepcludex in France, Germany and Austria, and continues to prepare for launch in certain other markets throughout 2021. It is expected that this transaction will accelerate the global launch of Hepcludex. Hepcludex is a first-in-class treatment for HDV that blocks viral entry into liver cells through binding to NTCP. It is the first and currently the only medicine conditionally approved for HDV by the EMA, and MYR anticipates submission for accelerated approval in the United States in the second half of 2021. The U.S. Food and Drug Administration (FDA) has granted the medicine both Orphan Drug and Breakthrough Therapy designations for chronic HDV infection.
Led by Dmitry Popov, Chief Executive Officer, MYR is a commercial stage biotechnology company dedicated to the development of bulevirtide, a first-in-class entry inhibitor which binds to the NTCP receptor for HDV and other indications. MYR started operations in 2011 and has been supported by its founders, private and venture capital investors including the High-Tech-Gründerfonds.
Led by Daniel O’Day, Chairman and Chief Executive Officer, Gilead Sciences is a research-based biopharmaceutical company that discovers, develops and commercializes innovative medicines in areas of unmet medical need. The company has operations in more than 35 countries worldwide, with headquarters in Foster City, California.