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Gilead Sciences, Inc.

Drug Names(s): Nolatrexed, AG337

Description: Thymitaq is a potent direct inhibitor of thymidylate synthase, an enzyme essential in pyrimidine metabolism. Pyrimidines are essential building blocks of DNA. Thus, Thymitaq inhibits normal DNA synthesis, causing cell death.

Deal Structure: In January 1999, Zarix, Limited licensed worldwide rights to THYMITAQ from AgouronPharmaceuticals.

In July 2002, Zarix changed its name to EXIMIASPharmaceutical Corporation.

In May 2006, YM Biosciences completed its acquisitions of Eximias.

Gilead and YM
In December 2012, Gilead and YM BioSciences signed a definitive agreement under which Gilead will acquire YM for U.S. $2.95 per share in cash. The transaction has received the unanimous approval of YMs Board of Directors, and values YM at approximately U.S. $510 million, with YM reporting C $125.5 million in cash and cash equivalents as of September 30, 2012. Gilead plans to fund the acquisition with cash on hand. The transaction is expected to close in the first quarter of 2013.

Under the terms of the agreement, upon closing of the proposed transaction, shareholders of YM will receive U.S. $2.95 per common share in cash, and holders of warrants and stock options will receive a cash payment equal to the...See full deal structure in Biomedtracker

Thymitaq News

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