Gilead Sciences Acquires Nimbus Apollo for $400M

Gilead Sciences, Inc. GILD and Nimbus Therapeutics announced Monday that the companies have signed a agreement to acquire Nimbus Apollo, Inc., a subsidiary of Nimbus Therapeutics, and its Acetyl-CoA Carboxylase (ACC) inhibitor program. Nimbus Therapeutics will receive an upfront payment of $400 million, with the potential to receive an additional $800 million in development-related milestones over time. Norbert Bischofberger, PhD, Executive Vice President, Research and Development and Chief Scientific Officer of Gilead Sciences commented "The acquisition of Nimbus' ACC-inhibitor program represents a timely and important opportunity to accelerate Gilead's ongoing efforts to address unmet needs in NASH." Shares of Gilead Sciences are down 0.09 percent today.