Gilead to buy liver treatment programme from Phenex Laboratories for US$470m
The Farnesoid X Receptor treats diseases including nonalcoholic steatohepatitis (NASH)
Gilead Sciences has agreed to purchase a liver-disease treatment programme from Phenex Pharmaceuticals, a privately-held biotechnology company based in Ludwigshafen, Germany, for up to US$470m.
The deal also includes an undisclosed upfront payment plus potential development milestones.
Phenex’s Farnesoid X Receptor (FXR) programme focuses on treating liver diseases including nonalcoholic steatohepatitis (NASH), a chronic ailment that is estimated to affect up to 20% of people in the developed world.
NASH is characterised by inflammation and excessive fat accumulation in the liver and it could lead to progressive fibrosis, cirrhosis and liver failure. There are currently no approved therapies to treat it, according to Gilead.
Gilead plans to advance the FXR programme into clinical development as quickly as possible
FXR is a nuclear hormone receptor that regulates bile acid, lipid and glucose homeostasis, which the company said could help reduce liver steatosis and inflammation, while potentially preventing liver fibrosis.
Gilead's EVP, Research and Development and Chief Scientific Officer Norbert Bischofberger said the acquisition of Phenex’s FXR programme represents 'an important opportunity to accelerate development of new treatment options that address fibrotic liver diseases'. He added that the company plans to advance the FXR programme into clinical development 'as quickly as possible' to explore its potential in areas of significant unmet need.
Phenex Pharmaceuticals' CEO Claus Kremoser said that after 15 years of research, 'FXR is now one of the few clinically validated targets for NASH and we are delighted that Gilead will be continuing the research necessary to more fully realise its potential for advanced liver disease'.
