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Gilead Sciences, Inc.
Drug Names(s): CVT-6883
Description: CVT-6883, a selective, potent and orally available A2B-adenosine receptorantagonist. In asthma, naturally increased levels of adenosine can overactivate the A2B-adenosine receptor leading to mast celldegranulation and the release of inflammatory cytokines associated withbronchoconstriction and chronic lung inflammation. By selectively inhibitingthe A2B-adenosine receptor, CVT-6883 is intended to potentially prevent orreduce this inflammatory process.
Deal Structure: CVT-6883 was originally developed by CV Therapeutics.
In January 2009, Astellas Pharma announced that it submitted a proposal to the Board of Directors of CV Therapeutics to acquire all outstanding common shares of CV Therapeutics for $16.00 per share in cash.
In March 2009, Gilead Sciences and CV Therapeutics announced the signing of a definitive agreement pursuant to which Gilead will acquire CV Therapeutics for $20.00 per share in cash through a tender offer and second step merger. The acquisition was completed in April 2009.
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