Gilead acquires Farnesoid X Receptor agonists from Phenex Pharma for treatment of NASH

Gilead Sciences, Inc. and Phenex Pharmaceuticals AG, a privately-held biotechnology company, announced the signing of a definitive agreement under which Gilead will acquire Phenex�s Farnesoid X Receptor (FXR) program comprising small molecule FXR agonists for the treatment of liver diseases including Nonalcoholic Steatohepatitis (NASH). Under the terms of the agreement, Gilead will pay Phenex an upfront payment plus additional payments based upon achievement of certain development milestones that may potentially be worth up to $470 million. NASH is a common, serious chronic liver disease characterized by inflammation and excessive fat accumulation in the liver and may lead to progressive fibrosis, cirrhosis and liver failure. NASH is estimated to affect 10 to 20 percent of people in the developed world. There are currently no approved therapies to treat NASH. FXR is a nuclear hormone receptor that regulates bile acid, lipid and glucose homeostasis, which can help reduce liver steatosis and inflammation, and may help prevent liver fibrosis.