Gilead to Acquire Forty Seven for $4.9B

Shots:

• Gilead to acquire Forty Seven in an all-cash transaction for $95.50/share, making a total deal value of ~$4.9B. The transaction is anticipated to be closed in Q2’20
• The focus of the acquisition is to bolster Gilead’s immune-oncology portfolio with the addition of Forty Seven’s magrolimab which complements its existing work in hematology and two additional compounds (FSI-174 & FSI-189). The acquisition will combine Forty Seven’s scientific expertise with Gilead expertise of developing therapies modifying the immune system
•  Magrolimab is an investigational therapy targeting CD47, being evaluated in multiple clinical studies for MDS, AML and DLBCL and has received the US FDA’s FT designation for the same

Click here ­to­ read full press release/ article | Ref: Businesswire | Image: Forty Seven