Gilead invests $25 million in Corus Pharma

By Lisa Kerner

Erie, Pa., April 12 - Gilead Sciences, Inc. said it has invested $25 million in Corus Pharma, Inc., a privately held Seattle-based company focused on the development of novel drugs for respiratory diseases.

In return for the investment, Gilead will receive preferred shares in Corus, become the second-largest shareholder in the company and have an exclusive option to purchase the remaining Corus shares at a pre-specified price, according to a company news release.

Cayston (aztreonam lysine for inhalation), Corus' lead product candidate, is an inhaled antibiotic with activity against gram-negative bacteria including Pseudomonas aeruginosa, which can cause lung infections in patients with cystic fibrosis (CF).

Corus is enrolling phase 3 studies to evaluate Cayston as a potential treatment for CF-related pulmonary infections.

"This investment will provide Corus with the resources to continue the important clinical trials of aztreonam lysine," Gilead executive vice president and chief financial officer John F. Milligan said in the release.

"There is no known cure for cystic fibrosis, and treatment of the disease and of related infections represents an area of tremendous unmet medical need. Through this alliance between Corus and Gilead, patients with cystic fibrosis may gain more rapid access to an important new treatment option."

Gilead is a biopharmaceutical company located in Foster City, Calif., that discovers, develops and commercializes innovative therapeutics in areas of unmet medical need.

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