Tuesday, February 22, 2011

Gilead Sciences Buys Calistoga Pharmaceuticals

Foster City-based Gilead Sciences said today that it is acquiring Calistoga Pharmaceuticals, a Seattle developer of inflammatory, autoimmune, and cancer drugs. Gilead will pay $375M plus up to $225M in earnout for Calistoga. Calistoga was venture backed by Alta Partners, Amgen Ventures, Frazier Healthcare Ventures, Latterell Venture Partners, Lilly Bioventures, Quogue Capital, Three Arch Partners, and others.