Shots:

• Gilead to acquire Forty Seven in an all-cash transaction for $95.50/share- making a total deal value of ~$4.9B. The transaction is anticipated to be closed in Q2’20
• The focus of the acquisition is to bolster Gilead’s immune-oncology portfolio with the addition of Forty Seven’s magrolimab which complements its existing work in hematology and two additional compounds (FSI-174 & FSI-189). The acquisition will combine Forty Seven’s scientific expertise with Gilead expertise of developing therapies modifying the immune system
•  Magrolimab is an investigational therapy targeting CD47- being evaluated in multiple clinical studies for MDS- AML and DLBCL and has received the US FDA’s FT designation for the same

Click here ­to­ read full press release/ article | Ref: Businesswire | Image: Forty Seven