Gilead completes acquisition of CymaBay

Gilead Sciences (GILD) announced the completion of the previously announced transaction to acquire CymaBay Therapeutics (CBAY) for approximately $4.3B in total equity value. “The addition of CymaBay’s investigational lead product candidate, seladelpar for the treatment of primary biliary cholangitis – PBC – including pruritus, complements Gilead’s existing liver portfolio and aligns with its long-standing commitment to bringing transformational medicines to patients,” Gilead stated. “The acquisition of CymaBay brings us a potential best in disease therapy that could transform the treatment landscape for people with primary biliary cholangitis. I want to thank the CymaBay team for their efforts and commitment to addressing this high unmet need. We look forward to advancing seladelpar and building on Gilead’s more than 20-year legacy of treating and curing liver disease on a global scale,” added Daniel O’Day, Chairman and Chief Executive Officer, Gilead Sciences.