Gilead Acquires Magrolimab Manufacturer Forty Seven, Inc. for $4.9 Billion

In its largest acquisition since purchasing Kite Pharma in 2017, Gilead announced that it has acquired cancer biotech Forty Seven, Inc. for $4.9 billion.

Forty Seven’s CD47-targeting antibody magrolimab has shown an overall response rate of 50% in patients with myelodysplastic syndromes and a complete response rate of 40% in those with acute myeloid leukemia, according to results from a phase 1b study presented at the 2019 American Society of Hematology annual meeting. The California-based company also is testing magrolimab in patients with non-Hodgkin lymphoma, diffuse large B-cell lymphoma, and solid tumor cancers such as colorectal, ovarian, and bladder.

“Magrolimab complements our existing work in hematology, adding a non-cell therapy program that complements Kite’s pipeline of cell therapies for hematological cancers,” Gilead Chairman and CEO Daniel O’Day said.

Sources: Endpoints, March 2, 2020; FierceBiotech, March 2, 2020; Gilead press release, March 2, 2020.