Gilead to Acquire MYR for $1.4 Billion

Gilead announced on Dec. 10, 2020 that it is acquiring MYR, a German biotechnology company, for EUR 1.15 billion (US$1.4 billion) in cash with future milestone payments of up to EUR 300 million (US$363 million).

Through the acquisition Gilead will gain access to Hepcludex (bulevirtide) for the treatment of chronic hepatitis D virus (HDV) infection in adults with compensated liver disease, Gilead said in a company press release.

“HDV is a devastating disease with high unmet medical need. With Hepcludex we have the opportunity to address that need with a first-in-class therapy,” said Daniel O’Day, chairman and CEO, Gilead Sciences, in the press release. “We look forward to working with the team at MYR to realize the full potential of Hepcludex for patients with HDV worldwide. This will build on the work that Gilead has been doing for almost two decades to innovate and improve therapies for viral hepatitis.”

“We are proud of our achievement in bringing Hepcludex from preclinical stage to patients in need within such a short timeframe,” added Dmitry Popov, CEO, MYR, in the press release. “We are excited to join Gilead, whose experience in the hepatitis field and global infrastructure will realize the full potential of Hepcludex and provide access to as many patients as possible around the world with this debilitating disease.”

Source: Gilead