Sierra Oncology (SRRA) announced it has acquired the drug candidate momelotinib from Gilead Sciences (GILD). Momelotinib has been investigated in two completed Phase 3 trials for the treatment of myelofibrosis and has demonstrated a potentially differentiated therapeutic profile encompassing anemia-related benefits, as well as achieving substantive spleen and constitutional symptom control. Sierra will pay Gilead a $3M upfront fee for momelotinib and potential aggregate milestone payments of up to $195M, which are largely associated with commercial sales of the drug. Sierra will also pay Gilead royalties on any sales of momelotinib, which will be tiered based on commercial success and range from mid-teens to high-twenties. Sierra will assume all currently ongoing clinical studies with momelotinib following a transition period.
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