Gilead Sciences Exercises Option to Acquire Corus Pharma for $365 Million
On July 19, Gilead notified Corus of its intention to exercise its option to acquire the company. In April 2006, Gilead invested $25 million in Corus, becoming the second largest shareholder in the company and gaining an exclusive option to purchase the remaining shares of the company.
Corus' lead product candidate, aztreonam lysine for inhalation, is an inhaled antibiotic with activity against Gram-negative bacteria including Pseudomonas aeruginosa, which can cause lung infections in patients with cystic fibrosis (CF). Phase III studies to evaluate the product as a potential treatment for CF-related pulmonary infections are currently enrolling. In addition to aztreonam lysine, Corus is exploring an inhalation formulation of two antibiotics for the potential treatment of respiratory infections. This program is currently in preclinical development. The company is also exploring treatments for other respiratory diseases such as chronic cough and asthma.
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