Sierra Oncology Amends its Asset Purchase Agreement with Gilead for Momelotinib Signed in 2018

 Sierra Oncology Amends its Asset Purchase Agreement with Gilead for Momelotinib Signed in 2018

Sierra Oncology Amends its Asset Purchase Agreement with Gilead for Momelotinib Signed in 2018

Shots:

  • As per the amended agreement, Gilead will reduce the royalty rates of Momelotinib & eliminates milestone payments in exchange for becoming a stockholder in Sierra, following the closing of Sierra’s qualified financing. In Aug’2018, Sierra acquired Gilead’s Momelotinib for $3M up front, $195M milestones and royalties on sales
  • Additionally, Sierra and Gilead Sciences would sign a securities purchase agreement, under which Gilead will receive 7.5% shares of Sierra’s common stock along with warrant to purchase its common stock for an additional 7.5% shares
  • Momelotinib is a JAK1, JAK2 & ACVR1 inhibitor, potentially used for the treatment of myelofibrosis with the anticipated onset of P-III MOMENTUM study in the coming months

Click here to­ read full press release/ article | Ref: PRNewswire | Image: Glassdoor

Tuba Khan

Tuba Khan is Senior Editor at PharmaShots. She is curious, creative, and passionate about recent updates and innovation in the Life sciences industry. She covers Biopharma, MedTech, and Digital health segments. Tuba also has an experience of digital and social media marketing and runs the campaigns independently. She can be contacted on tuba@pharmashots.com

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