Gilead Sciences Pays $375M For Calistoga Pharma

Publicly traded Gilead Sciences Inc. will pay $375 million to acquire venture-backed Calistoga Pharmaceuticals, a company developing treatments for cancer and inflammatory diseases. Calistoga could net up an additional $225 million in milestone-based earn-outs. Seattle-based Calistoga has raised more than $90 million from venture investors including Alta Partners, Amgen Ventures, Frazier Healthcare and Three Arch Partners and Latterell Venture Partners.

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