On February 8, 2013, Gilead Sciences, Inc. (Gilead) announced the completion of its acquisitions of YM BioSciences Inc. (YM) for US$510 million. A subsidiary of Gilead acquired all of the outstanding common shares of YM pursuant to the terms of a plan of arrangement resulting in YM becoming a wholly-owned subsidiary of Gilead.
YM was a drug development company primarily focused on advancing CYT387, an orally administered inhibitor of both the JAK1 and JAK2 kinases, which have been implicated in a number of hematological and immune cell disorders including myeloproliferative neoplasms and inflammatory diseases as well as certain cancers. Positive results have been reported from a Phase I/II trial of CYT387 in 166 patients with myelofibrosis.
Gilead Sciences is a biopharmaceutical company that discovers, develops and commercializes innovative therapeutics in areas of unmet medical need. Gilead'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.
Heenan Blaikie acted as co-counsel for YM with a team led by Sonia Yung that included Alexandru Farcas, Grace Kim-Cho, Jennifer Lau and Ora Wexler (corporate finance and securities), Lia Chiarotto (employment) and Catherine Nicholson (tax).