Gilead Sciences, Inc. (Nasdaq: GILD) and Yale School of Medicine today announced the formation of a multi-year research collaboration focused on the discovery of novel cancer therapies. The research effort will initially span four years with an option to renew for up to ten years. Gilead will provide $40 million in research support and basic science infrastructure development during the initial four-year period, and will provide a total of up to $100 million over ten years should the collaboration be extended through that timeframe. Gilead will have the first option to license Yale inventions that result from the collaboration.
Yale and Gilead will develop a multi-disciplinary research program to search for the genetic basis and underlying molecular mechanisms of many forms of cancer. Scientists from both organizations will work together to identify new molecular targets that provide better understanding of the basis of disease and enable development of novel targeted therapies, including new therapies that overcome drug resistance that develops in some cancer patients treated with current targeted therapies.
"The collaboration brings together one of the world's top research universities and a biopharmaceutical company dedicated to addressing unmet medical needs with the goal of finding new treatments for cancer," Yale President Richard C. Levin said. "This truly is transformative support that leverages the Yale Cancer Center's top scientists, our West Campus technology investments and the resources of the new Smilow Cancer Hospital. I can't think of a better partner to have in this collaboration than Gilead."
"Following Gilead's recent acquisitions of cancer development programs, this partnership serves to strengthen our discovery capabilities in the area of oncology," said Norbert W. Bischofberger, Ph.D., Gilead's Executive Vice President, Research and Development and Chief Scientific Officer. "Based on the strong track-record of the Yale cancer research team, I am confident this collaboration will lead to important advances in the understanding of the genetic basis of cancer as we collectively seek to develop novel targeted therapies for patients in areas of unmet medical need."
Research projects will be chosen by a joint steering committee to be chaired by Joseph Schlessinger, Ph.D., and chair of Yale's Department of Pharmacology and director of the Cancer Biology Institute at West Campus.
"When we find cancer targets that are new, we will work with Gilead on designing drugs, which they can then test in the clinic," Schlessinger said. "This is a tremendous opportunity for Yale and Gilead."
The Yale science team will also include Dr. Thomas Lynch, Director, Yale Cancer Center, Physician-in-Chief, Smilow Cancer Hospital at Yale-New Haven Hospital and renowned for his work in personalized treatments for cancer patients.
The Yale Center for Genome Analysis at West Campus, headed by Richard Lifton, M.D., Ph.D., chair of the Department of Genetics, will analyze the DNA of a variety of tumor types to look for genetic mutations associated with cancers. Schlessinger's team will use the data to understand effects of the gene mutations on cancer and to identify ways to intervene in the disease process, such as indentifying small molecules that will serve as the basis of new cancer therapies.
"Yale's faculty in this partnership possess critical and complementary skills that comprise an optimal team for cancer drug development," according to Robert Alpern, M.D., Dean of the Yale School of Medicine. "Tom Lynch brings experience in clinical cancer trials, Rick Lifton has been a leading innovator in genetics and genomics, and Yossi Schlessinger has unparalleled success in cancer drug development."
About Yale School of Medicine
For more than fifty years, Yale School of Medicine has been at the forefront of the continuously evolving field of cancer research. The Yale Cancer Center is one of a select network of 41 comprehensive cancer centers in the nation designated by the National Cancer Institute and the only comprehensive center in southern New England, whose mission encompasses basic and clinical research, cancer prevention and control, patient care, community outreach and education.
About Gilead Sciences
Gilead Sciences is a biopharmaceutical company that discovers, develops and commercializes innovative therapeutics in areas of unmet medical need. The company's mission is to advance the care of patients suffering from life-threatening diseases worldwide. Headquartered in Foster City, California, Gilead has operations in North America, Europe and Asia Pacific.
Gilead Forward-Looking Statement
This press release includes forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that are subject to risks, uncertainties and other factors, including risks related to the ability of Gilead and Yale to identify new molecular targets that warrant development. In addition, Gilead may not exercise its option to license any inventions resulting from the collaboration or renew the collaboration beyond the initial four year term. As a result, the efforts of the collaboration may not advance Gilead's product pipeline in the area of oncology. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. These and other risks are described in detail in Gilead's Annual Report on Form 10-K for the year ended December 31, 2010, as filed with the U.S. Securities and Exchange Commission. All forward-looking statements are based on information currently available to Gilead, and Gilead assumes no obligation to update any such forward-looking statements.
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