Hopefully we can bring these patients some much needed help.
Gilead bought Forty Seven back in March 2020 for $4.9 billion. It was just discontinued yesterday. I dare say Gilead will be keeping an eye on our progress.
Through the addition of Forty Seven’s investigational lead product candidate, magrolimab, the acquisition will strengthen Gilead’s immuno-oncology research and development portfolio. Magrolimab is a monoclonal antibody in clinical development for the treatment of several cancers for which new, transformative medicines are urgently needed, including myelodysplastic syndrome (MDS), acute myeloid leukemia (AML) and diffuse large B-cell lymphoma (DLBCL). The investigational therapy targets CD47, a “do not eat me” signal that allows cancer cells to avoid destruction thereby permitting the patient’s own innate immune system to engulf and eradicate those cancer cells. Forty Seven presented promising results of a Phase 1b study of magrolimab in patients with MDS and AML at the American Society of Hematology meeting in December 2019. Magrolimab has the potential to be a first-in-class therapy.
An experimental Gilead Sciences cancer drug showed an increased risk of death in a Phase 3 clinical trial, leading the FDA to place all tests of the immunotherapy in two types of blood cancers under a full clinical hold. But rather than working with the regulator to resolve the hold, Gilead will instead discontinue the pivotal study and stop further development of the drug for blood cancers, marking the latest setback to a once promising drug candidate acquired in a $4.9 billion deal.
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