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 an Editor and Digital Marketing expert at PharmaShots. She is curious, creative, and passionate about recent updates and innovation in Lifesciences industry. She covers Pharma, Medical devices, Diagnostics and Digital health segment. Tuba also has an experience of digital and social media marketing and can run the campaign independently. She is also certified as a Digital marketer and social media marketer. She can be contacted on tuba@pharmashots.com

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